Cascades (TSE:CAS) Reaches New 52-Week High – Still a Buy?

Cascades Inc. (TSE:CAS) shares hit a new 52-week high on Friday . The stock traded as high as C$13.95 and last traded at C$13.94, with a volume of 176921 shares trading hands. The stock had previously closed at C$13.73.

Wall Street Analyst Weigh In

Several research firms have commented on CAS. National Bank Financial boosted their target price on shares of Cascades from C$12.00 to C$15.00 and gave the stock a “sector perform” rating in a research report on Monday, February 2nd. TD Securities lifted their price objective on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Scotiabank increased their target price on shares of Cascades from C$13.50 to C$16.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Canadian Imperial Bank of Commerce boosted their price target on Cascades from C$12.00 to C$13.00 in a research report on Monday, November 10th. Finally, Desjardins upped their price target on Cascades from C$10.50 to C$13.50 and gave the stock a “hold” rating in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$14.58.

Cascades Stock Performance

The stock has a market cap of C$1.42 billion, a P/E ratio of 69.90, a P/E/G ratio of 0.56 and a beta of 1.13. The firm has a 50 day moving average of C$12.86 and a two-hundred day moving average of C$11.37. The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22.

Cascades (TSE:CAS) last issued its quarterly earnings results on Thursday, November 6th. The company reported C$0.38 EPS for the quarter. Cascades had a negative return on equity of 4.35% and a negative net margin of 1.62%.The company had revenue of C$1.24 billion during the quarter. On average, research analysts predict that Cascades Inc. will post 1.2959309 EPS for the current fiscal year.

Cascades Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, December 4th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, November 20th. This represents a $0.48 annualized dividend and a dividend yield of 3.4%. Cascades’s payout ratio is presently 240.00%.

About Cascades

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers. The business activity of the company functions in Canada, the United States, Italy, and other countries. Its customer base includes food processing companies, the maintenance industry, accommodations, and housing industry, micro-businesses, and boutiques.