Cascades (TSE:CAS) Sets New 12-Month High on Analyst Upgrade

Key Points

• Cascades shares reached a new 52-week high of C$17.97 after Scotia raised its price target from C$16.00 to C$20.50 and maintained a sector outperform rating.
• Analyst sentiment has generally improved, with multiple firms raising price targets and the stock carrying a “Moderate Buy” consensus rating; the average target is C$16.50.
• Cascades reported quarterly revenue of C$1.22 billion and earnings of C$0.24 per share, while declaring a quarterly dividend of C$0.12, equivalent to a 2.7% annualized yield.

Cascades Inc. (TSE:CAS - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday after Scotia raised their price target on the stock from C$16.00 to C$20.50. Scotia currently has a sector outperform rating on the stock. Cascades traded as high as C$17.97 and last traded at C$17.92, with a volume of 119760 shares. The stock had previously closed at C$17.83.

CAS has been the topic of a number of other research reports. Desjardins boosted their target price on shares of Cascades from C$13.00 to C$19.00 and gave the stock a "hold" rating in a research note on Monday, August 10th. TD increased their target price on Cascades from C$13.00 to C$15.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Royal Bank Of Canada lifted their price target on Cascades from C$15.00 to C$18.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. National Bank Financial upped their price objective on Cascades from C$13.00 to C$17.00 and gave the company a "sector perform" rating in a research note on Monday, August 10th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Cascades from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Cascades has an average rating of "Moderate Buy" and an average price target of C$16.50.

Cascades Price Performance

The company has a debt-to-equity ratio of 111.08, a current ratio of 1.48 and a quick ratio of 0.86. The firm has a market capitalization of C$1.80 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 0.56 and a beta of 1.04. The business's fifty day simple moving average is C$12.75 and its 200 day simple moving average is C$12.03.

Cascades (TSE:CAS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.24 earnings per share for the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. The firm had revenue of C$1.22 billion for the quarter. On average, research analysts forecast that Cascades Inc. will post 1.2959309 EPS for the current year.

Cascades Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, September 3rd will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 2.7%. Cascades's dividend payout ratio is 38.71%.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.

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