Cascades (CAS) Trading Down 2%
Cascades, Inc. (TSE:CAS) shares traded down 2% during mid-day trading on Friday . The stock traded as low as C$13.53 and last traded at C$13.86. 306,353 shares were traded during trading, an increase of 27% from the average session volume of 240,734 shares. The stock had previously closed at C$13.59.
Several research analysts recently issued reports on the company. National Bank Financial raised their target price on Cascades from C$19.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Friday, October 13th. CIBC downgraded Cascades from an “outperform” rating to a “neutral” rating in a research note on Monday, September 25th. TD Securities reduced their target price on Cascades from C$18.00 to C$17.00 and set a “hold” rating for the company in a research note on Thursday, August 17th. Royal Bank Of Canada reduced their target price on Cascades from C$17.00 to C$16.00 and set a “sector perform” rating for the company in a research note on Thursday, August 17th. Finally, Desjardins reduced their target price on Cascades from C$17.50 to C$16.00 in a research note on Thursday, August 17th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of C$16.79.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, December 1st were given a $0.04 dividend. The ex-dividend date was Tuesday, November 21st. This represents a $0.16 annualized dividend and a yield of 1.19%. Cascades’s payout ratio is 3.44%.
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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