Royal Bank of Canada Trims Cascades (TSE:CAS) Target Price to C$11.00

Cascades (TSE:CAS - Free Report) had its price objective reduced by Royal Bank of Canada from C$14.00 to C$11.00 in a report issued on Friday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other analysts also recently weighed in on the stock. CIBC cut their price objective on shares of Cascades from C$14.00 to C$12.00 in a research report on Thursday, April 11th. TD Securities reduced their price objective on Cascades from C$12.00 to C$11.00 and set a buy rating for the company in a research report on Tuesday. Desjardins lowered their target price on Cascades from C$14.50 to C$13.00 and set a hold rating on the stock in a research report on Thursday, March 28th. Finally, National Bankshares reduced their price target on Cascades from C$13.50 to C$11.00 in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of C$11.60.

Cascades Stock Performance

TSE:CAS traded up C$0.10 during trading hours on Friday, reaching C$9.29. 108,166 shares of the stock were exchanged, compared to its average volume of 269,860. Cascades has a 52 week low of C$9.14 and a 52 week high of C$15.00. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 108.76. The stock has a market capitalization of C$935.60 million, a P/E ratio of -12.22, a P/E/G ratio of 0.56 and a beta of 0.06. The firm has a 50 day simple moving average of C$10.59 and a 200-day simple moving average of C$11.92.

Cascades (TSE:CAS - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported C$0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.30 by C($0.25). The company had revenue of C$1.14 billion during the quarter, compared to the consensus estimate of C$1.22 billion. Cascades had a negative return on equity of 2.86% and a negative net margin of 1.64%. As a group, sell-side analysts forecast that Cascades will post 0.8298611 earnings per share for the current fiscal year.

Cascades Increases Dividend

The company also recently announced a 1 dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, March 21st were issued a dividend of $0.48 per share. This is a boost from Cascades's previous 1 dividend of $0.12. The ex-dividend date was Thursday, March 21st. This represents a yield of 4.66%. Cascades's payout ratio is presently -63.16%.

Cascades Company Profile

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.