Cascades Inc. (TSE:CAS – Get Free Report) has earned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$11.33.
Several research analysts have recently issued reports on the company. TD Securities cut their price target on 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. CIBC cut their price objective on Cascades from C$12.00 to C$11.00 in a research report on Thursday, July 18th. Royal Bank of Canada lowered their target price on Cascades from C$11.00 to C$10.00 in a report on Thursday, July 11th. Scotiabank cut their price target on Cascades from C$13.50 to C$12.00 and set a “sector perform” rating for the company in a report on Wednesday, April 24th. Finally, National Bankshares decreased their price objective on Cascades from C$13.50 to C$11.00 in a research note on Thursday, April 11th.
Get Our Latest Stock Analysis on Cascades
Cascades Price Performance
Cascades Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, June 6th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, June 6th. This represents a $0.48 annualized dividend and a dividend yield of 5.02%. Cascades’s payout ratio is -228.57%.
Insider Activity at Cascades
In related news, Director Alain Lemaire sold 48,033 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of C$9.49, for a total transaction of C$455,833.17. In other news, Director Mario Plourde sold 91,680 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of C$9.80, for a total value of C$898,464.00. Also, Director Alain Lemaire sold 48,033 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of C$9.49, for a total value of C$455,833.17. In the last three months, insiders sold 221,300 shares of company stock worth $2,134,240. Corporate insiders own 23.84% of the company’s stock.
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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