Cascades (TSE:CAS) Reaches New 1-Year Low Following Analyst Downgrade

Cascades Inc. (TSE:CAS)’s stock price reached a new 52-week low during mid-day trading on Thursday after Scotiabank lowered their price target on the stock from C$13.50 to C$12.00. Scotiabank currently has a sector perform rating on the stock. Cascades traded as low as C$9.10 and last traded at C$9.20, with a volume of 37316 shares trading hands. The stock had previously closed at C$9.30.

A number of other brokerages have also weighed in on CAS. Royal Bank of Canada lowered their target price on Cascades from C$14.00 to C$11.00 and set a “sector perform” rating on the stock in a research note on Friday, April 19th. National Bankshares lowered their price objective on Cascades from C$13.50 to C$11.00 in a research report on Thursday, April 11th. TD Securities dropped their target price on Cascades from C$12.00 to C$11.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Desjardins decreased their price target on shares of Cascades from C$14.50 to C$13.00 and set a “hold” rating on the stock in a research note on Thursday, March 28th. Finally, CIBC lowered their price target on shares of Cascades from C$14.00 to C$12.00 in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$11.67.

Cascades Stock Down 0.1 %

The company has a debt-to-equity ratio of 108.76, a quick ratio of 0.86 and a current ratio of 1.33. The stock’s fifty day simple moving average is C$10.21 and its two-hundred day simple moving average is C$11.85. The stock has a market capitalization of C$924.52 million, a P/E ratio of -12.08, a price-to-earnings-growth ratio of 0.56 and a beta of 0.06.

Cascades (TSE:CAS) last announced its earnings results on Thursday, February 22nd. The company reported C$0.05 EPS for the quarter, missing the consensus estimate of C$0.30 by C($0.25). The company had revenue of C$1.14 billion for the quarter, compared to analyst estimates of C$1.22 billion. Cascades had a negative return on equity of 2.86% and a negative net margin of 1.64%. As a group, research analysts expect that Cascades Inc. will post 0.8298611 EPS for the current fiscal year.

Cascades Increases Dividend

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