Cascades (TSE:CAS) Reaches New 1-Year High After Analyst Upgrade

Shares of Cascades Inc. (TSE:CAS) reached a new 52-week high during trading on Tuesday after National Bank Financial raised their price target on the stock from C$13.00 to C$17.00. National Bank Financial currently has a sector perform rating on the stock. Cascades traded as high as C$17.53 and last traded at C$16.88, with a volume of 2172594 shares changing hands. The stock had previously closed at C$17.02.

A number of other equities research analysts have also issued reports on CAS. TD upped their target price on Cascades from C$13.00 to C$15.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Canadian Imperial Bank of Commerce raised Cascades from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Desjardins raised their price target on Cascades from C$13.00 to C$19.00 and gave the stock a “hold” rating in a research report on Monday. Scotiabank cut their price target on Cascades from C$16.75 to C$14.50 and set an “outperform” rating for the company in a report on Monday, April 13th. Finally, Royal Bank Of Canada upped their price objective on Cascades from C$15.00 to C$18.00 and gave the company an “outperform” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$15.93.

Key Cascades News

Here are the key news stories impacting Cascades this week:

• Positive Sentiment: Analyst targets raised: Royal Bank of Canada increased its target on Cascades from C$15 to C$18 and upgraded the stock to outperform. Desjardins raised its target from C$13 to C$19 while maintaining a hold rating, and National Bank Financial lifted its target from C$13 to C$17 with a sector perform rating. The broad-based target increases suggest improving expectations for the company’s earnings or valuation. BayStreet.CA analyst ratings
• Positive Sentiment: New 52-week high: Cascades reached a new 52-week high following the analyst upgrade activity, indicating strong investor demand and positive near-term momentum. Trading volume was also substantially above its recent average. Cascades reaches new 52-week high on analyst upgrade
• Neutral Sentiment: Articles about a dormant volcano, wildfires, smoke, and September snowfall in the North Cascades concern the mountain region of the U.S. Pacific Northwest, not Cascades Inc. (TSX: CAS). They do not appear to have a direct effect on the company’s operations or stock valuation. Dormant volcano article

Cascades Stock Up 1.2%

The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 111.08. The firm has a market cap of C$1.73 billion, a PE ratio of 17.08, a P/E/G ratio of 0.56 and a beta of 1.04. The firm’s 50 day moving average is C$12.35 and its 200-day moving average is C$11.93.

Cascades (TSE:CAS) last announced its earnings results on Thursday, August 6th. The company reported C$0.24 earnings per share (EPS) for the quarter. The firm had revenue of C$1.22 billion for the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. As a group, equities research analysts expect that Cascades Inc. will post 1.2959309 earnings per share for the current fiscal year.

Cascades Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. Cascades’s dividend payout ratio (DPR) is 48.00%.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.