Cascades Inc. (TSE:CAS) Given Average Recommendation of “Hold” by Brokerages

Cascades Inc. (TSE:CAS) has received a consensus rating of “Hold” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$11.92.

CAS has been the subject of several research reports. 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 8th. Scotiabank decreased their price objective on shares of Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Royal Bank of Canada lifted their price objective on shares of Cascades from C$11.00 to C$12.00 in a research note on Friday, November 8th. Finally, CIBC decreased their price objective on shares of Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a research note on Monday, August 12th.

Cascades Stock Up 0.4 %

TSE:CAS opened at C$12.61 on Thursday. The company has a market cap of C$1.27 billion, a PE ratio of -30.02, a P/E/G ratio of 0.56 and a beta of 0.15. Cascades has a twelve month low of C$8.83 and a twelve month high of C$15.00. The company has a current ratio of 1.23, a quick ratio of 0.86 and a debt-to-equity ratio of 119.55. The company’s 50 day moving average is C$10.87 and its two-hundred day moving average is C$9.90.

Cascades Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, December 5th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Thursday, November 21st. Cascades’s dividend payout ratio is currently -114.29%.

Insider Activity at Cascades

In related news, Senior Officer Luc Langevin sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of C$11.30, for a total value of C$33,900.00. Company insiders own 23.78% of the company’s stock.

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.