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

Cascades (TSE:CAS) had its price objective cut by Scotiabank from C$13.50 to C$12.00 in a report released on Wednesday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other brokerages have also issued reports on CAS. Desjardins lowered their price target on Cascades from C$14.50 to C$13.00 and set a hold rating on the stock in a research note on Thursday, March 28th. TD Securities lowered their price target 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. National Bankshares lowered their price target on Cascades from C$13.50 to C$11.00 in a research note on Thursday, April 11th. CIBC lowered their price target on Cascades from C$14.00 to C$12.00 in a research note on Thursday, April 11th. Finally, Royal Bank of Canada lowered their price target on Cascades from C$14.00 to C$11.00 and set a sector perform rating on the stock in a research note on Friday, April 19th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of C$11.67.

Cascades Price Performance

TSE CAS opened at C$9.18 on Wednesday. Cascades has a twelve month low of C$9.10 and a twelve month high of C$15.00. The company has a debt-to-equity ratio of 108.76, a quick ratio of 0.86 and a current ratio of 1.33. The stock has a market capitalization of C$924.52 million, a PE ratio of -12.08, a P/E/G ratio of 0.56 and a beta of 0.06. The stock has a 50-day simple moving average of C$10.10 and a 200 day simple moving average of C$11.83.

Cascades (TSE:CAS) last posted its quarterly earnings data 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 return on equity of 2.86% and a negative net margin of 1.64%. The business had revenue of C$1.14 billion for the quarter, compared to analyst estimates of C$1.22 billion. Research analysts anticipate that Cascades will post 0.8298611 EPS for the current year.

Cascades Increases Dividend

The business also recently disclosed a 1 dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 21st were paid a $0.48 dividend. This is a positive change from Cascades’s previous 1 dividend of $0.12. This represents a dividend yield of 4.66%. The ex-dividend date of this dividend was Thursday, March 21st. Cascades’s dividend payout ratio is currently -63.16%.

Cascades Company Profile

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.