Cascades (TSE:CAS) Given New C$12.00 Price Target at Royal Bank of Canada

Cascades (TSE:CAS) had its price objective boosted by Royal Bank of Canada from C$11.00 to C$12.00 in a research note published on Friday,BayStreet.CA reports.

Several other research analysts have also issued reports on the company. CIBC lowered their target price on Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a research report on Monday, August 12th. 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. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$11.92.

Cascades Stock Down 1.7 %

Shares of TSE:CAS traded down C$0.19 during midday trading on Friday, hitting C$11.00. The stock had a trading volume of 174,300 shares, compared to its average volume of 222,937. The business’s 50-day simple moving average is C$10.14 and its 200-day simple moving average is C$9.65. Cascades has a 12 month low of C$8.83 and a 12 month high of C$15.00. The company has a market cap of C$1.11 billion, a P/E ratio of -26.19, a PEG ratio of 0.56 and a beta of 0.15. The company has a quick ratio of 0.86, a current ratio of 1.23 and a debt-to-equity ratio of 119.55.

Cascades (TSE:CAS) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.08 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.02. The company had revenue of C$1.18 billion during the quarter, compared to the consensus estimate of C$1.17 billion. Cascades had a negative net margin of 0.91% and a negative return on equity of 1.44%. On average, sell-side analysts forecast that Cascades will post 1.2959309 earnings per share for the current fiscal year.

Cascades Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a $0.12 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.48 annualized dividend and a yield of 4.36%. Cascades’s dividend payout ratio (DPR) is presently -114.29%.

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.