Cascades Inc. (TSE:CAS – Get Free Report) hit a new 52-week high during trading on Friday after TD Securities raised their price target on the stock from C$13.50 to C$14.00. TD Securities currently has a hold rating on the stock. Cascades traded as high as C$12.74 and last traded at C$12.46, with a volume of 53850 shares. The stock had previously closed at C$12.55.
Separately, Royal Bank of Canada lifted their target price on Cascades from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$12.10.
Cascades Price Performance
The company has a 50 day moving average of C$11.77 and a 200-day moving average of C$11.01. The firm has a market capitalization of C$1.28 billion, a P/E ratio of -13.56, a P/E/G ratio of 0.56 and a beta of 0.17. The company has a current ratio of 1.55, a quick ratio of 0.86 and a debt-to-equity ratio of 115.85.
Cascades Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Friday, September 1st will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 1st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.76%. Cascades’s payout ratio is -51.06%.
About Cascades
Cascades Inc produces, converts, and sells 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 comprising trays and accessories, produce baskets and boxes, clamshells, produce boxes, egg packaging solutions, pizza and insulated boxes, bulk bins, cup carriers, food grade films, and customized containers for the food sector; protective packaging, including die-cut boxes, handling and shipping solutions, protective materials, large format boxes, and shipping trays; e-commerce packaging solutions, which include e-commerce boxes, custom mailer boxes, custom printing, packaging optimization products, and cutter for multi-depth boxes, as well as the solution for faster packing and shipping tests; and various retail packaging products.
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