Cascades (TSE:CAS) Upgraded by Scotiabank to Strong-Buy Rating

Scotiabank upgraded shares of Cascades (TSE:CAS) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of Cascades from C$12.00 to C$13.00 and gave the stock a “sector perform” rating in a research report on Friday, December 20th. TD Securities upped their price target on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, CIBC lifted their price objective on Cascades from C$12.00 to C$13.00 in a research report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$12.50.

Cascades Stock Performance

Shares of Cascades stock opened at C$13.25 on Monday. The company has a 50 day moving average of C$12.08 and a 200-day moving average of C$10.66. The company has a market cap of C$1.34 billion, a PE ratio of -31.55, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15. The company has a current ratio of 1.23, a quick ratio of 0.86 and a debt-to-equity ratio of 119.55. Cascades has a 1-year low of C$8.83 and a 1-year high of C$14.96.

Cascades (TSE:CAS) last issued its 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 return on equity of 1.44% and a negative net margin of 0.91%. During the same period in the previous year, the firm posted $0.44 earnings per share. As a group, equities research analysts forecast that Cascades will post 1.2959309 earnings per share for the current fiscal year.

Cascades Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders 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 dividend on an annualized basis and a yield of 3.62%. Cascades’s dividend payout ratio is currently -114.29%.

Insider Buying and Selling at Cascades

In other news, Senior Officer Luc Langevin sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 company 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.