Desjardins lowered shares of Cascades (TSE:CAS) from a buy rating to a hold rating in a research report report published on Monday morning, Zacks.com reports. Desjardins also issued estimates for Cascades’ Q4 2019 earnings at $0.24 EPS, FY2019 earnings at $0.96 EPS and FY2020 earnings at $1.16 EPS.

A number of other brokerages have also recently weighed in on CAS. CIBC upped their price objective on Cascades from C$11.00 to C$13.00 in a research note on Monday, September 16th. TD Securities upped their price objective on Cascades from C$13.00 to C$13.50 and gave the stock a hold rating in a research note on Monday. Royal Bank of Canada upped their price objective on Cascades from C$14.00 to C$15.00 and gave the stock an outperform rating in a research note on Monday, August 12th. Raymond James upped their price objective on Cascades from C$14.00 to C$15.00 in a research note on Monday, August 12th. Finally, National Bank Financial upped their price objective on Cascades from C$14.50 to C$15.00 and gave the stock an outperform rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of C$14.42.

Shares of TSE CAS traded down C$0.33 during mid-day trading on Monday, reaching C$12.82. 178,448 shares of the company were exchanged, compared to its average volume of 196,927. The company has a quick ratio of 0.81, a current ratio of 1.43 and a debt-to-equity ratio of 115.99. The stock has a market cap of $1.23 billion and a price-to-earnings ratio of 51.49. Cascades has a 1 year low of C$7.55 and a 1 year high of C$13.44. The firm has a 50-day moving average of C$12.12 and a 200 day moving average of C$11.10.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, December 5th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Wednesday, November 20th. Cascades’s dividend payout ratio (DPR) is presently 64.26%.

In other Cascades news, Director Mario Plourde sold 14,900 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of C$11.77, for a total value of C$175,373.00. Following the completion of the sale, the director now directly owns 348,309 shares in the company, valued at C$4,099,596.93. Also, Senior Officer Robert F. Hall sold 41,373 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of C$11.81, for a total value of C$488,615.13. Following the completion of the sale, the insider now owns 208,174 shares of the company’s stock, valued at C$2,458,534.94. Over the last quarter, insiders sold 231,327 shares of company stock valued at $2,633,474.

Cascades Company Profile

Cascades Inc produces, converts, and markets packaging and tissue products in Canada, the United States, and internationally. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It offers containerboards, and coated recycled and virgin boxboards, as well as converts corrugated products.

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Analyst Recommendations for Cascades (TSE:CAS)

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