Cascades (TSE:CAS) Upgraded to Buy at Desjardins

Desjardins upgraded shares of Cascades (TSE:CAS) from a hold rating to a buy rating in a report published on Wednesday, December 6th. They currently have C$15.50 price target on the stock, up from their prior price target of C$15.00. Desjardins also issued estimates for Cascades’ Q4 2017 earnings at $0.10 EPS, FY2017 earnings at $0.68 EPS and FY2018 earnings at $1.00 EPS.

Several other analysts have also commented on CAS. Scotiabank set a C$17.00 price target on Cascades and gave the company a sector perform rating in a research note on Friday, August 11th. TD Securities reduced their price objective on Cascades from C$18.00 to C$17.00 and set a hold rating on the stock in a research note on Friday, August 11th. Royal Bank of Canada reduced their price objective on Cascades from C$17.00 to C$16.00 and set a sector perform rating on the stock in a research note on Friday, August 11th. CIBC downgraded Cascades from an outperform rating to a neutral rating in a research report on Monday, September 25th. Finally, National Bank Financial boosted their target price on Cascades from C$19.00 to C$21.00 and gave the stock an outperform rating in a research report on Friday, October 13th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of Buy and an average target price of C$17.21.

Shares of Cascades (TSE CAS) traded down C$0.18 during trading hours on Wednesday, hitting C$13.62. The stock had a trading volume of 118,900 shares, compared to its average volume of 242,173. The firm has a market cap of $1,310.00 and a price-to-earnings ratio of 2.93. Cascades has a one year low of C$11.44 and a one year high of C$18.20.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, December 1st were paid a $0.04 dividend. The ex-dividend date was Tuesday, November 21st. This represents a $0.16 dividend on an annualized basis and a yield of 1.17%. Cascades’s payout ratio is 3.44%.

In other news, insider Bernard Lemaire sold 118,500 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of C$12.69, for a total transaction of C$1,503,765.00.

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About Cascades

Cascades Inc (Cascades) is a Canada-based company that produces, converts and markets packaging and tissue products consisting of recycled fibers. The Company operates through four segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes the Company’s Packaging Products) and Tissue Papers.

Analyst Recommendations for Cascades (TSE:CAS)

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