Shares of Cascades Inc. (TSE:CAS – Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$9.23 and last traded at C$9.17, with a volume of 101031 shares traded. The stock had previously closed at C$9.27.
Analysts Set New Price Targets
CAS has been the topic of a number of recent analyst reports. TD Securities lowered their price objective on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research report on Tuesday. National Bankshares lowered their price target on Cascades from C$13.50 to C$11.00 in a research report on Thursday, April 11th. Desjardins lowered their price target on Cascades from C$14.50 to C$13.00 and set a “hold” rating on the stock in a research report on Thursday, March 28th. Royal Bank of Canada downgraded Cascades from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$15.00 to C$14.00 in a research report on Friday, February 23rd. Finally, CIBC lowered their price target on Cascades from C$14.00 to C$12.00 in a research report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$12.20.
Cascades Stock Down 0.9 %
Cascades (TSE:CAS – Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported C$0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.25). Cascades had a negative net margin of 1.64% and a negative return on equity of 2.86%. The company had revenue of C$1.14 billion for the quarter, compared to the consensus estimate of C$1.22 billion. As a group, research analysts expect that Cascades Inc. will post 0.8298611 EPS for the current fiscal year.
Cascades Increases Dividend
The business also recently disclosed a 1 dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 21st were paid a dividend of $0.48 per share. This is a boost from Cascades’s previous 1 dividend of $0.12. This represents a dividend yield of 4.66%. The ex-dividend date of this dividend was Thursday, March 21st. Cascades’s dividend payout ratio (DPR) is -63.16%.
Cascades Company Profile
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.
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