Scotiabank Cuts Cascades (TSE:CAS) Price Target to C$12.00

Cascades (TSE:CAS) had its target price decreased by investment analysts at Scotiabank from C$13.50 to C$12.00 in a research note issued on Wednesday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 30.01% from the stock’s previous close.

CAS has been the subject of several other reports. Desjardins reduced their target price on Cascades from C$14.50 to C$13.00 and set a “hold” rating for the company in a research note on Thursday, March 28th. CIBC reduced their target price on shares of Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th. Royal Bank of Canada lowered their price target on shares of Cascades from C$14.00 to C$11.00 and set a “sector perform” rating on the stock in a report on Friday, April 19th. National Bankshares reduced their price objective on Cascades from C$13.50 to C$11.00 in a report on Thursday, April 11th. Finally, TD Securities lowered their target price on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$11.67.

Cascades Stock Down 2.0 %

Shares of TSE:CAS traded down C$0.19 during midday trading on Wednesday, reaching C$9.23. The company had a trading volume of 163,201 shares, compared to its average volume of 266,366. The business’s 50 day moving average price is C$10.49 and its 200 day moving average price is C$11.90. Cascades has a 1-year low of C$9.14 and a 1-year high of C$15.00. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 108.76. The stock has a market cap of C$929.55 million, a PE ratio of -12.16, a P/E/G ratio of 0.56 and a beta of 0.06.

Cascades (TSE:CAS) last released its earnings results on Thursday, February 22nd. The company reported C$0.05 earnings per share for the quarter, missing the consensus estimate of C$0.30 by C($0.25). Cascades had a negative net margin of 1.64% and a negative return on equity of 2.86%. The firm had revenue of C$1.14 billion during the quarter, compared to the consensus estimate of C$1.22 billion. Research analysts forecast that Cascades will post 0.8298611 EPS for the current fiscal year.

About Cascades

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.