Cascades Inc. (TSE:CAS – Get Free Report) has received a consensus rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$11.92.
A number of equities analysts have recently weighed in on the stock. CIBC cut their price objective on shares of Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a research report on Monday, August 12th. Scotiabank decreased their price objective on Cascades from C$12.00 to C$11.00 and set a “sector perform” rating on the stock in a report on Monday, August 12th. Royal Bank of Canada upped their target price on Cascades from C$11.00 to C$12.00 in a research note on Friday, November 8th. Finally, TD Securities raised their price target on Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a research note on Friday, November 8th.
View Our Latest Analysis on Cascades
Cascades Stock Down 1.6 %
Cascades Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, December 5th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, November 21st. Cascades’s dividend payout ratio is currently -114.29%.
Insider Transactions at Cascades
In related news, Senior Officer Luc Langevin sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of C$11.30, for a total transaction of C$33,900.00. Corporate insiders own 23.78% of the company’s stock.
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.
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