Cascades Inc (CAS) Given Average Recommendation of “Hold” by Analysts
Cascades Inc (TSE:CAS) has been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is C$16.71.
A number of brokerages recently issued reports on CAS. CIBC lowered shares of Cascades from an “outperform” rating to a “neutral” rating in a report on Monday, September 25th. National Bank Financial dropped their price objective on shares of Cascades from C$21.00 to C$18.50 and set an “outperform” rating for the company in a report on Friday. Scotiabank reissued a “sector perform” rating and set a C$17.00 target price on shares of Cascades in a research report on Sunday, July 30th. Desjardins decreased their target price on shares of Cascades from C$17.50 to C$16.00 in a research report on Friday, August 11th. Finally, Royal Bank Of Canada decreased their target price on shares of Cascades from C$17.00 to C$16.00 and set a “sector perform” rating for the company in a research report on Friday, August 11th.
Shares of Cascades (TSE:CAS) traded down C$1.09 during trading on Monday, reaching C$13.22. 577,326 shares of the company’s stock were exchanged, compared to its average volume of 240,148. Cascades has a 12-month low of C$10.95 and a 12-month high of C$18.20.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, December 1st will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, November 21st. Cascades’s payout ratio is 3.44%.
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Cascades Company Profile
Cascades Inc (Cascades) is a Canada-based company that produces, converts and markets packaging and tissue products consisting of recycled fibers. The Company operates through four segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes the Company’s Packaging Products) and Tissue Papers.
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