Desjardins Issues Pessimistic Forecast for Cascades (TSE:CAS) Stock Price

Key Points

• Desjardins cut its price target for Cascades to C$13.00 (from C$15.00) and kept a "hold" rating, implying about a 20.26% upside from the prior close.
• Analyst coverage is mixed — three "buy" and three "hold" ratings — giving Cascades an average consensus rating of "Moderate Buy" with a consensus target of C$14.25.
• Cascades traded at C$10.81 mid-day, below analyst targets; the company has a market cap of C$1.10B, a PE of 15.67, and reported quarterly EPS of C$0.40 on C$1.20B revenue.

Cascades (TSE:CAS - Get Free Report) had its price objective lowered by Desjardins from C$15.00 to C$13.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Desjardins' target price would indicate a potential upside of 20.26% from the company's previous close.

Other research analysts have also issued reports about the company. Royal Bank Of Canada increased their price objective on Cascades from C$14.00 to C$16.00 and gave the stock an "outperform" rating in a research note on Thursday, December 18th. National Bank Financial increased their price objective on Cascades from C$12.00 to C$15.00 and gave the stock a "sector perform" rating in a research note on Monday, February 2nd. Scotiabank increased their price objective on Cascades from C$13.50 to C$16.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 27th. Finally, TD Securities dropped their price objective on Cascades from C$16.00 to C$15.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cascades has an average rating of "Moderate Buy" and a consensus target price of C$14.25.

Cascades Price Performance

Cascades stock traded up C$0.12 during mid-day trading on Monday, hitting C$10.81. 83,795 shares of the company were exchanged, compared to its average volume of 209,319. The company has a quick ratio of 0.86, a current ratio of 1.43 and a debt-to-equity ratio of 112.96. The business has a fifty day moving average of C$12.24 and a 200 day moving average of C$12.00. Cascades has a 1-year low of C$8.30 and a 1-year high of C$14.20. The company has a market capitalization of C$1.10 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.56 and a beta of 0.99.

Cascades (TSE:CAS - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported C$0.40 earnings per share (EPS) for the quarter. Cascades had a return on equity of 4.11% and a net margin of 1.47%.The firm had revenue of C$1.20 billion during the quarter. As a group, sell-side analysts expect that Cascades will post 1.2959309 earnings per share for the current year.

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. The business activity of the company functions in Canada, the United States, Italy, and other countries. Its customer base includes food processing companies, the maintenance industry, accommodations, and housing industry, micro-businesses, and boutiques.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.