Cascades Inc. (CAS) to Issue Quarterly Dividend of $0.12 on June 5th

Cascades Inc. (TSE:CAS) announced a quarterly dividend on Thursday, May 22nd, TickerTech Dividends reports. Shareholders of record on Thursday, June 5th will be paid a dividend of 0.12 per share on Thursday, June 5th. This represents a $0.48 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Thursday, May 22nd.

Cascades Stock Up 4.4%

Shares of TSE:CAS opened at C$9.24 on Tuesday. The business’s 50 day moving average is C$9.29 and its 200 day moving average is C$10.98. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37. Cascades has a 12-month low of C$8.30 and a 12-month high of C$13.42. The stock has a market cap of C$934.64 million, a price-to-earnings ratio of -12.46, a PEG ratio of 0.56 and a beta of 0.15.

Insider Activity

In related news, Senior Officer Allan Hogg sold 29,496 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of C$8.75, for a total value of C$258,090.00. Also, Director Nelson Gentiletti acquired 6,000 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were acquired at an average price of C$8.69 per share, for a total transaction of C$52,140.00. Insiders own 23.78% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Scotiabank upgraded shares of Cascades from a “hold” rating to a “strong-buy” rating and upped their price objective for the stock from C$12.00 to C$15.50 in a research report on Monday, January 27th. Royal Bank of Canada decreased their price objective on Cascades from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a report on Tuesday, April 22nd. National Bankshares reduced their price target on Cascades from C$14.00 to C$11.00 and set a “sector perform” rating for the company in a report on Thursday, April 24th. TD Securities downgraded Cascades from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$12.00 to C$9.50 in a report on Friday, May 9th. Finally, CIBC cut their price target on Cascades from C$13.00 to C$10.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$11.40.

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.