Scotiabank upgraded shares of Cascades (TSE:CAS – Free Report) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.
CAS has been the subject of a number of other research reports. TD Securities lifted their target price on Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a report on Friday, November 8th. CIBC boosted their target price on Cascades from C$12.00 to C$13.00 in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada raised their price target on shares of Cascades from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a report on Friday, December 20th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$12.50.
Get Our Latest Stock Report on Cascades
Cascades Stock Down 1.9 %
Cascades (TSE:CAS – Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.14 by C$0.13. Cascades had a negative net margin of 0.91% and a negative return on equity of 1.44%. During the same period in the previous year, the business posted $0.44 EPS. On average, research analysts forecast that Cascades 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 5th. Stockholders of record on Thursday, December 5th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.48 annualized dividend and a dividend yield of 3.69%. Cascades’s dividend payout ratio (DPR) is -114.29%.
Insider Activity at Cascades
In related news, Senior Officer Luc Langevin sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of C$11.30, for a total transaction of C$33,900.00. 23.78% of the stock is currently owned by corporate insiders.
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.
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