Royal Bank of Canada Lowers Cascades (TSE:CAS) Price Target to C$11.00

Cascades (TSE:CAS) had its target price dropped by Royal Bank of Canada from C$14.00 to C$11.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 18.03% from the company’s previous close.

CAS has been the subject of several other reports. National Bankshares reduced their price target on Cascades from C$13.50 to C$11.00 in a report on Thursday, April 11th. CIBC reduced their price objective on Cascades from C$14.00 to C$12.00 in a research report on Thursday, April 11th. Desjardins dropped their target price 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. Finally, TD Securities reduced their price target on shares of Cascades from C$12.00 to C$11.00 and set a “buy” rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$11.60.

Cascades Stock Up 1.4 %

CAS stock traded up C$0.13 during midday trading on Friday, hitting C$9.32. The stock had a trading volume of 81,916 shares, compared to its average volume of 269,473. The business has a 50-day moving average of C$10.69 and a two-hundred day moving average of C$11.94. The company has a debt-to-equity ratio of 108.76, a current ratio of 1.33 and a quick ratio of 0.86. The firm has a market cap of C$938.62 million, a price-to-earnings ratio of -12.28, a price-to-earnings-growth ratio of 0.56 and a beta of 0.06. Cascades has a 52-week low of C$9.14 and a 52-week high of C$15.00.

Cascades (TSE:CAS) last released its earnings results 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 business had revenue of C$1.14 billion during the quarter, compared to analysts’ expectations of C$1.22 billion. As a group, equities research analysts forecast that Cascades will post 0.8298611 earnings per share for the current fiscal year.

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.