Cascades (TSE:CAS) Sets New 1-Year Low at $9.23

Cascades Inc. (TSE:CAS) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$9.23 and last traded at C$9.17, with a volume of 101031 shares changing hands. The stock had previously closed at C$9.27.

Analyst Upgrades and Downgrades

CAS has been the topic of several recent analyst reports. CIBC decreased their price target on Cascades from C$14.00 to C$12.00 in a research note on Thursday, April 11th. Royal Bank of Canada lowered Cascades from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from C$15.00 to C$14.00 in a research note on Friday, February 23rd. National Bankshares decreased their price target on Cascades from C$13.50 to C$11.00 in a research note on Thursday, April 11th. Desjardins decreased their price target on 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, TD Securities decreased their price target on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$12.20.

Cascades Price Performance

The firm has a market cap of C$925.52 million, a P/E ratio of -12.20, a price-to-earnings-growth ratio of 0.56 and a beta of 0.06. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 108.76. The business has a 50-day moving average of C$10.79 and a two-hundred day moving average of C$11.96.

Cascades (TSE:CAS) last issued its quarterly earnings data on Thursday, February 22nd. The company reported C$0.05 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.25). Cascades had a negative return on equity of 2.86% and a negative net margin of 1.64%. The firm had revenue of C$1.14 billion for the quarter, compared to the consensus estimate of C$1.22 billion. On average, sell-side analysts anticipate that Cascades Inc. will post 0.8298611 earnings per share for the current fiscal year.

Cascades Increases Dividend

The business also recently declared a 1 dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, March 21st were given a $0.48 dividend. This represents a dividend yield of 4.66%. The ex-dividend date was Thursday, March 21st. This is a positive change from Cascades’s previous 1 dividend of $0.12. Cascades’s payout ratio is -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.