Cascades (TSE:CAS) Reaches New 52-Week Low on Analyst Downgrade

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

Other equities research analysts have also issued reports about the stock. Desjardins reduced their target price on shares of Cascades from C$14.50 to C$13.00 and set a “hold” rating on the stock in a report on Thursday, March 28th. TD Securities reduced their price objective on shares of Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. CIBC lowered their target price on Cascades from C$14.00 to C$12.00 in a research report on Thursday, April 11th. National Bankshares reduced their price target on Cascades from C$13.50 to C$11.00 in a research report on Thursday, April 11th. Finally, Royal Bank of Canada decreased their price target on 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Cascades presently has a consensus rating of “Hold” and a consensus price target of C$11.67.

Cascades Price Performance

The stock has a market capitalization of C$925.52 million, a P/E ratio of -12.09, a price-to-earnings-growth ratio of 0.56 and a beta of 0.06. The business’s 50 day simple moving average is C$10.31 and its two-hundred day simple moving average is C$11.87. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 108.76.

Cascades (TSE:CAS) last posted 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 net margin of 1.64% and a negative return on equity of 2.86%. The company had revenue of C$1.14 billion during the quarter, compared to the consensus estimate of C$1.22 billion. As a group, sell-side analysts forecast that Cascades Inc. will post 0.8298611 earnings per share for the current fiscal year.

Cascades Increases Dividend

The firm also recently announced a 1 dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 21st were paid a $0.48 dividend. This represents a dividend yield of 4.66%. The ex-dividend date of this dividend was Thursday, March 21st. This is an increase from Cascades’s previous 1 dividend of $0.12. Cascades’s payout ratio is presently -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.