Cascades (TSE:CAS) Price Target Cut to C$12.00

Cascades (TSE:CAS) had its target price reduced by research analysts at Scotiabank from C$13.50 to C$12.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 30.58% from the company’s current price.

CAS has been the subject of a number of other research reports. Desjardins cut their target price on shares of Cascades from C$14.50 to C$13.00 and set a “hold” rating for the company in a research report on Thursday, March 28th. TD Securities cut 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 report on Tuesday, April 16th. Royal Bank of Canada cut 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 report on Friday, April 19th. National Bankshares cut their price objective on shares of Cascades from C$13.50 to C$11.00 in a research report on Thursday, April 11th. Finally, CIBC cut their price objective on shares of Cascades from C$14.00 to C$12.00 in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$11.67.

Cascades Stock Performance

Shares of CAS opened at C$9.19 on Wednesday. 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 stock has a market cap of C$925.52 million, a P/E ratio of -12.09, a PEG ratio of 0.56 and a beta of 0.06. The company has a 50-day moving average of C$10.31 and a two-hundred day moving average of C$11.87. Cascades has a 12-month low of C$9.10 and a 12-month high of C$15.00.

Cascades (TSE:CAS) last announced its earnings results on Thursday, February 22nd. The company reported C$0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.25). The business had revenue of C$1.14 billion for the quarter, compared to analyst estimates of C$1.22 billion. Cascades had a negative return on equity of 2.86% and a negative net margin of 1.64%. As a group, research analysts predict that Cascades will post 0.8298611 EPS 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.