Cascades (TSE:CAS) has received a consensus recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$18.32.
A number of research analysts have recently commented on the stock. National Bank Financial upped their price target on shares of Cascades from C$18.50 to C$21.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Desjardins upped their price target on shares of Cascades from C$15.50 to C$19.00 in a report on Tuesday, January 30th. Royal Bank of Canada cut their price target on shares of Cascades from C$20.00 to C$18.00 and set an “outperform” rating on the stock in a report on Friday, March 2nd. Scotiabank cut their price target on shares of Cascades from C$18.00 to C$17.75 and set a “sector perform” rating on the stock in a report on Friday, March 2nd. Finally, TD Securities upgraded shares of Cascades from a “hold” rating to a “buy” rating and upped their price target for the stock from C$16.50 to C$18.00 in a report on Monday, January 29th.
TSE CAS opened at C$13.70 on Thursday. Cascades has a 12 month low of C$0.28 and a 12 month high of C$5.10.
Cascades (TSE:CAS) last posted its quarterly earnings results on Thursday, March 1st. The company reported C$0.12 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.22 by C($0.10). The company had revenue of C$1.08 billion during the quarter, compared to the consensus estimate of C$1.09 billion. Cascades had a return on equity of 9.16% and a net margin of 3.17%.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 28th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Tuesday, March 13th.
In other Cascades news, insider Bernard Lemaire sold 400,000 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of C$15.48, for a total transaction of C$6,192,000.00. Also, Director Alain Lemaire sold 79,121 shares of the stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of C$14.05, for a total transaction of C$1,111,650.05. Over the last quarter, insiders have sold 507,668 shares of company stock worth $7,711,910.
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Cascades Company Profile
Cascades Inc, together with its subsidiaries, produces, converts, and markets packaging and tissue products in Canada, the United States, and Europe. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It manufactures coated recycled and virgin boxboards, and containerboards, as well as converts corrugated products.
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