Cascades (TSE:CAS) Reaches New 52-Week High – Here’s What Happened

Cascades Inc. (TSE:CAS)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as C$13.95 and last traded at C$13.94, with a volume of 176921 shares changing hands. The stock had previously closed at C$13.73.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAS. National Bank Financial upped their price objective on Cascades from C$12.00 to C$15.00 and gave the stock a “sector perform” rating in a research report on Monday, February 2nd. Desjardins increased their price objective on Cascades from C$10.50 to C$13.50 and gave the stock a “hold” rating in a research report on Friday, November 7th. Canadian Imperial Bank of Commerce upped their price target on Cascades from C$12.00 to C$13.00 in a research note on Monday, November 10th. TD Securities lifted their price objective on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Royal Bank Of Canada upped their price objective on shares of Cascades from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$14.58.

Cascades Stock Performance

The stock’s fifty day simple moving average is C$12.83 and its 200-day simple moving average is C$11.32. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37. The company has a market capitalization of C$1.41 billion, a PE ratio of 69.50, a PEG ratio of 0.56 and a beta of 1.13.

Cascades (TSE:CAS) last announced its quarterly earnings results on Thursday, November 6th. The company reported C$0.38 EPS for the quarter. Cascades had a negative return on equity of 4.35% and a negative net margin of 1.62%.The business had revenue of C$1.24 billion for the quarter. On average, research analysts predict that Cascades Inc. will post 1.2959309 earnings per share for the current fiscal year.

Cascades Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, December 4th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.48 annualized dividend and a yield of 3.5%. Cascades’s dividend payout ratio is 240.00%.

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.