Cascades (TSE:CAS) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Cascades (TSE:CAS) from a hold rating to a moderate buy rating in a research note issued to investors on Monday morning, MarketBeat.com reports. The brokerage currently has C$13.00 target price on the stock, up from their prior target price of C$11.00.

A number of other research analysts have also issued reports on the stock. TD Securities upgraded shares of Cascades from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Desjardins reduced their price target on shares of Cascades from C$11.00 to C$10.50 and set a “hold” rating for the company in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cascades presently has an average rating of “Moderate Buy” and an average target price of C$11.67.

Cascades Trading Up 1.2%

Shares of TSE:CAS opened at C$11.43 on Monday. The company’s 50-day moving average price is C$9.87 and its two-hundred day moving average price is C$9.35. The company has a debt-to-equity ratio of 121.37, a current ratio of 1.22 and a quick ratio of 0.86. Cascades has a one year low of C$8.30 and a one year high of C$13.42. The stock has a market capitalization of C$1.16 billion, a PE ratio of -142.88, a price-to-earnings-growth ratio of 0.56 and a beta of 0.95.

Cascades Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, September 4th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Thursday, August 21st. Cascades’s dividend payout ratio is currently -600.00%.

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.