Cascades Inc. (TSE:CAS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Cascades Inc. (TSE:CAS) have received a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$13.64.

A number of equities research analysts have issued reports on CAS shares. Desjardins decreased their target price on shares of Cascades from C$15.00 to C$13.00 and set a “hold” rating for the company in a research note on Monday, April 13th. TD dropped their price target on shares of Cascades from C$14.00 to C$13.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Royal Bank Of Canada cut their price objective on Cascades from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Friday, May 8th. National Bank Financial reduced their price objective on Cascades from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Finally, Scotiabank lowered their target price on Cascades from C$16.75 to C$14.50 and set an “outperform” rating on the stock in a research note on Monday, April 13th.

Cascades Stock Performance

CAS stock opened at C$11.65 on Thursday. The company has a debt-to-equity ratio of 113.03, a quick ratio of 0.86 and a current ratio of 1.53. The stock has a market cap of C$1.18 billion, a P/E ratio of 11.65, a P/E/G ratio of 0.56 and a beta of 1.09. The firm has a 50 day simple moving average of C$10.86 and a 200 day simple moving average of C$11.83. Cascades has a 52 week low of C$8.90 and a 52 week high of C$14.20.

Cascades (TSE:CAS) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.07 earnings per share for the quarter. Cascades had a net margin of 2.15% and a return on equity of 5.95%. The firm had revenue of C$1.12 billion for the quarter. Research analysts anticipate that Cascades will post 1.2959309 earnings per share for the current fiscal year.

Cascades Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Thursday, May 21st. Cascades’s payout ratio is currently 48.00%.

Insider Activity at Cascades

In other news, insider Laurent Lemaire purchased 23,302 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of C$10.52 per share, with a total value of C$245,137.04. Following the purchase, the insider owned 7,837,637 shares in the company, valued at C$82,451,941.24. This represents a 0.30% increase in their position. Insiders own 23.78% of the company’s stock.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.