Cascades Inc. (TSE:CAS – Get Free Report) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$11.08.
Several equities analysts have issued reports on the stock. CIBC decreased their price objective on shares of Cascades from C$11.00 to C$10.50 and set a “neutral” rating on the stock in a report on Monday, August 12th. Royal Bank of Canada decreased their price target on shares of Cascades from C$11.00 to C$10.00 in a research note on Thursday, July 11th. Finally, Scotiabank cut their price objective on 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.
Read Our Latest Research Report on CAS
Cascades Stock Performance
Cascades (TSE:CAS – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported C$0.08 earnings per share for the quarter, topping the consensus estimate of C$0.06 by C$0.02. Cascades had a negative return on equity of 1.44% and a negative net margin of 0.91%. The business had revenue of C$1.18 billion during the quarter, compared to the consensus estimate of C$1.17 billion. Sell-side analysts anticipate that Cascades will post 1.2904149 EPS for the current fiscal year.
Cascades Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, September 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Thursday, September 5th. Cascades’s payout ratio is presently -114.29%.
Insider Transactions at Cascades
In other news, Director Hugues Simon bought 11,000 shares of Cascades stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of C$9.10 per share, with a total value of C$100,100.00. Company insiders own 23.78% of the company’s stock.
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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