Cascades Inc. (TSE:CAS) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Cascades Inc. has received a consensus recommendation of "Hold" from six ratings firms, with five analysts recommending hold and one giving a strong buy.
• The company's shares recently traded down 0.9% to C$9.77, and it has a 12-month price range of C$8.30 to C$13.42.
• Cascades has announced a quarterly dividend of $0.12 per share, which will be paid on September 4th, reflecting an annual yield of 4.9%.

Cascades Inc. (TSE:CAS - Get Free Report) has been assigned a consensus rating of "Hold" from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$11.33.

A number of equities research analysts have issued reports on the stock. CIBC decreased their price target on shares of Cascades from C$13.00 to C$10.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. National Bankshares decreased their price target on shares of Cascades from C$14.00 to C$11.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. TD Securities upped their price target on shares of Cascades from C$9.50 to C$10.00 and gave the company a "hold" rating in a report on Friday. Desjardins decreased their price target on shares of Cascades from C$11.00 to C$10.50 and set a "hold" rating for the company in a report on Monday. Finally, Royal Bank Of Canada upped their price objective on shares of Cascades from C$10.00 to C$11.00 and gave the company a "sector perform" rating in a research report on Friday.

Insider Buying and Selling

In other news, Director Alex Nick Blanco acquired 7,331 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was bought at an average price of C$9.32 per share, with a total value of C$68,328.74. Also, Director Jean-David Tardif sold 5,753 shares of Cascades stock in a transaction dated Monday, June 9th. The shares were sold at an average price of C$9.16, for a total transaction of C$52,697.48. In the last quarter, insiders sold 119,911 shares of company stock valued at $1,068,804. 23.78% of the stock is owned by company insiders.

Cascades Stock Down 0.9%

Shares of Cascades stock traded down C$0.09 on Monday, hitting C$9.77. 111,086 shares of the company traded hands, compared to its average volume of 248,140. The company has a market cap of C$988.25 million, a PE ratio of -13.18, a PEG ratio of 0.56 and a beta of 0.15. Cascades has a 12-month low of C$8.30 and a 12-month high of C$13.42. The company has a 50-day moving average price of C$9.17 and a 200 day moving average price of C$9.87. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37.

Cascades Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, September 4th will be issued a $0.12 dividend. The ex-dividend date is Thursday, August 21st. This represents a $0.48 annualized dividend and a yield of 4.9%. Cascades's dividend payout ratio (DPR) is -64.73%.

About Cascades

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers.

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