Scotiabank Has Lowered Expectations for Cascades (TSE:CAS) Stock Price

Key Points

• Scotiabank cut its price target on Cascades from C$16.75 to C$14.50 while maintaining an outperform rating, with the new target implying roughly a 34% upside from the prior close.
• Analysts are split — three Buy and three Hold — resulting in a consensus rating of Moderate Buy and an average target price of C$14.25.
• Shares traded at C$10.81 midday (up 1.1%), giving a market cap of C$1.10 billion and a P/E of 15.67; Cascades reported C$0.40 EPS and C$1.20 billion in revenue for the most recent quarter.

Cascades (TSE:CAS - Get Free Report) had its price target cut by Scotiabank from C$16.75 to C$14.50 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's price objective points to a potential upside of 34.14% from the company's previous close.

CAS has been the topic of several other reports. Royal Bank Of Canada increased their price objective on Cascades from C$14.00 to C$16.00 and gave the company an "outperform" rating in a research note on Thursday, December 18th. Desjardins reduced their price objective on Cascades from C$15.00 to C$13.00 and set a "hold" rating on the stock in a research note on Monday. National Bank Financial reduced their price objective on Cascades from C$15.00 to C$14.00 and set a "sector perform" rating on the stock in a research note on Monday. Finally, TD Securities reduced their price objective on Cascades from C$16.00 to C$15.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$14.25.

Cascades Trading Up 1.1%

Shares of TSE CAS traded up C$0.12 during midday trading on Monday, reaching C$10.81. 83,795 shares of the stock were exchanged, compared to its average volume of 209,319. The company has a 50 day simple moving average of C$12.24 and a 200 day simple moving average of C$12.00. The stock has a market capitalization of C$1.10 billion, a P/E ratio of 15.67, a PEG ratio of 0.56 and a beta of 0.99. The company has a debt-to-equity ratio of 112.96, a quick ratio of 0.86 and a current ratio of 1.43. Cascades has a twelve month low of C$8.30 and a twelve month high of C$14.20.

Cascades (TSE:CAS - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported C$0.40 earnings per share (EPS) for the quarter. Cascades had a net margin of 1.47% and a return on equity of 4.11%. The business had revenue of C$1.20 billion during the quarter. As a group, equities 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.

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