Shares of Cascades Inc. (TSE:CAS – Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$9.23 and last traded at C$9.17, with a volume of 101031 shares. The stock had previously closed at C$9.27.
Wall Street Analyst Weigh In
Several analysts have commented on CAS shares. National Bankshares dropped their price objective on Cascades from C$13.50 to C$11.00 in a report on Thursday, April 11th. Desjardins cut their price target on shares of Cascades from C$14.50 to C$13.00 and set a “hold” rating for the company 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 for the company in a research report on Tuesday. Royal Bank of Canada decreased their price objective on shares of Cascades from C$14.00 to C$11.00 and set a “sector perform” rating on the stock in a report on Friday. Finally, CIBC cut their target price on shares of Cascades from C$14.00 to C$12.00 in a research note on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$11.60.
Read Our Latest Stock Report on CAS
Cascades Price Performance
Cascades (TSE:CAS – Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported C$0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, analysts forecast that Cascades Inc. will post 0.8298611 earnings per share for the current year.
Cascades Increases Dividend
The firm also recently disclosed a 1 dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, March 21st were paid a dividend of $0.48 per share. This represents a yield of 4.66%. The ex-dividend date was Thursday, March 21st. This is a boost from Cascades’s previous 1 dividend of $0.12. Cascades’s dividend 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.
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