Cascades (TSE:CAS) Trading Up 8.2% - Should You Buy?

Key Points

• Cascades Inc. shares rose 8.2% during mid-day trading, reaching a last traded price of C$10.37, following a previous close of C$9.58.
• Analysts have mixed ratings for Cascades, with one Strong Buy, five Hold ratings, and a target price consensus of C$11.33.
• The company declared a quarterly dividend of $0.12, representing a 4.7% annualized yield, despite a negative payout ratio.

Shares of Cascades Inc. (TSE:CAS - Get Free Report) were up 8.2% during mid-day trading on Friday . The company traded as high as C$10.55 and last traded at C$10.37. Approximately 204,620 shares traded hands during trading, a decline of 8% from the average daily volume of 221,535 shares. The stock had previously closed at C$9.58.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CAS shares. Desjardins cut their target price on Cascades from C$11.00 to C$10.50 and set a "hold" rating for the company in a research note on Monday, August 11th. Royal Bank Of Canada increased their target price on Cascades from C$10.00 to C$11.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Finally, TD Securities increased their target price on Cascades from C$9.50 to C$10.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Cascades has a consensus rating of "Hold" and a consensus target price of C$11.33.

Cascades Trading Up 7.5%

The firm has a market cap of C$1.04 billion, a price-to-earnings ratio of -128.75, a PEG ratio of 0.56 and a beta of 0.95. The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22. The business has a fifty day moving average of C$9.78 and a two-hundred day moving average of C$9.32.

Cascades Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, September 4th were issued a $0.12 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.7%. Cascades's dividend payout ratio is currently -600.00%.

Cascades Company Profile

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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