TD Securities upgraded shares of Cascades (TSE:CAS) from a hold rating to a buy rating in a research report released on Wednesday, BayStreet.CA reports. TD Securities currently has C$11.50 price objective on the stock, up from their previous price objective of C$11.00.
Other equities research analysts have also issued research reports about the stock. National Bank Financial lowered shares of Cascades from an outperform rating to a sector perform rating and lowered their target price for the stock from C$11.00 to C$9.00 in a report on Thursday, April 18th. CIBC raised their target price on shares of Cascades from C$10.00 to C$11.00 in a report on Monday, May 13th. Finally, Royal Bank of Canada lowered their target price on shares of Cascades from C$13.00 to C$12.00 and set an outperform rating for the company in a report on Friday, May 10th.
CAS stock opened at C$10.14 on Wednesday. Cascades has a 52 week low of C$7.55 and a 52 week high of C$13.94. The company has a debt-to-equity ratio of 119.03, a current ratio of 1.43 and a quick ratio of 0.80. The firm has a market cap of $940.08 million and a price-to-earnings ratio of 50.20.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, June 6th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 1.58%. Cascades’s dividend payout ratio (DPR) is presently 79.21%.
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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