Cascades (TSE:CAS) Reaches New 12-Month Low Following Analyst Downgrade

Cascades Inc. (TSE:CAS)’s share price reached a new 52-week low 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 changing hands. The stock had previously closed at C$9.30.

Other analysts have also issued research reports about the stock. National Bankshares reduced their price target on shares of Cascades from C$13.50 to C$11.00 in a research report on Thursday, April 11th. CIBC reduced their price target on shares of Cascades from C$14.00 to C$12.00 in a research report on Thursday, April 11th. Desjardins reduced 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 report on Thursday, March 28th. TD Securities dropped their price objective on shares of Cascades from C$12.00 to C$11.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada dropped their price objective on shares of Cascades from C$14.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Friday, April 19th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$11.67.

Cascades Price Performance

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 capitalization of C$928.55 million, a price-to-earnings ratio of -12.24, a PEG ratio of 0.56 and a beta of 0.06. The business’s fifty day simple moving average is C$10.40 and its 200 day simple moving average is C$11.88.

Cascades (TSE:CAS) last released its quarterly earnings results on Thursday, February 22nd. The company reported C$0.05 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of C$1.22 billion. On average, research analysts forecast that Cascades Inc. will post 0.8298611 EPS for the current year.

Cascades Increases Dividend

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