National Bank Financial Boosts Cascades (TSE:CAS) Price Target to C$14.50

Cascades (TSE:CAS) had its price objective boosted by National Bank Financial from C$13.00 to C$14.50 in a report published on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock. National Bank Financial also issued estimates for Cascades’ Q3 2019 earnings at $0.37 EPS, Q4 2019 earnings at $0.24 EPS, FY2019 earnings at $1.02 EPS and FY2020 earnings at $1.43 EPS.

CAS has been the subject of several other research reports. CIBC increased their target price on Cascades from C$10.00 to C$11.00 in a research report on Monday, May 13th. TD Securities lowered Cascades from a buy rating to a hold rating and set a C$13.50 target price for the company. in a research report on Tuesday, July 16th. Royal Bank of Canada increased their target price on Cascades from C$12.00 to C$14.00 in a research report on Tuesday, July 9th. Finally, Raymond James increased their target price on Cascades from C$14.00 to C$15.00 in a research report on Monday.

CAS opened at C$11.55 on Monday. Cascades has a one year low of C$7.55 and a one year high of C$13.94. The firm has a market capitalization of $1.13 billion and a price-to-earnings ratio of 46.39. The business has a 50 day simple moving average of C$11.87 and a two-hundred day simple moving average of C$9.77. The company has a debt-to-equity ratio of 115.99, a current ratio of 1.43 and a quick ratio of 0.81.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, September 6th will be given a $0.08 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $0.32 annualized dividend and a dividend yield of 2.77%. This is a positive change from Cascades’s previous quarterly dividend of $0.04. Cascades’s dividend payout ratio is currently 128.51%.

About Cascades

Cascades Inc produces, converts, and markets packaging and tissue products in Canada, the United States, and internationally. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It offers containerboards, and coated recycled and virgin boxboards, as well as converts corrugated products.

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