TD Securities Lowers Cascades (TSE:CAS) Price Target to C$11.00

Cascades (TSE:CAS) had its price objective reduced by TD Securities from C$12.00 to C$11.00 in a research note released on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research firms also recently issued reports on CAS. Desjardins decreased their price objective on shares of Cascades from C$14.50 to C$13.00 and set a hold rating for the company in a research note on Thursday, March 28th. CIBC decreased their price objective on shares of Cascades from C$14.00 to C$12.00 in a research note on Thursday, April 11th. National Bankshares decreased their price objective on shares of Cascades from C$13.50 to C$11.00 in a research note on Thursday, April 11th. Finally, Royal Bank of Canada downgraded shares of Cascades from an outperform rating to a sector perform rating and decreased their price objective for the stock from C$15.00 to C$14.00 in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and an average price target of C$11.60.

Cascades Price Performance

CAS opened at C$9.29 on Tuesday. The company’s 50 day simple moving average is C$10.59 and its 200 day simple moving average is C$11.92. The company has a debt-to-equity ratio of 108.76, a quick ratio of 0.86 and a current ratio of 1.33. Cascades has a 1 year low of C$9.14 and a 1 year high of C$15.00. The stock has a market capitalization of C$935.60 million, a PE ratio of -12.22, a P/E/G ratio of 0.56 and a beta of 0.06.

Cascades (TSE:CAS) last released its 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). Cascades had a negative return on equity of 2.86% and a negative net margin of 1.64%. The company had revenue of C$1.14 billion during the quarter, compared to analyst estimates of C$1.22 billion. As a group, sell-side analysts expect that Cascades will post 0.8298611 EPS for the current year.

Cascades Increases Dividend

The company also recently announced a 1 dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 21st were paid a $0.48 dividend. The ex-dividend date was Thursday, March 21st. This is an increase from Cascades’s previous 1 dividend of $0.12. This represents a dividend yield of 4.66%. Cascades’s dividend payout ratio is -63.16%.

About Cascades

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.