Canadian Imperial Bank of Commerce upgraded shares of Cascades (TSE:CAS – Free Report) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.
A number of other equities analysts have also issued reports on CAS. National Bank Financial decreased their price target on Cascades from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Scotiabank dropped their price objective on Cascades from C$16.75 to C$14.50 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Royal Bank Of Canada decreased their target price on Cascades from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Desjardins lowered their target price on Cascades from C$15.00 to C$13.00 and set a “hold” rating on the stock in a report on Monday, April 13th. Finally, TD lifted their target price on Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$13.93.
Read Our Latest Analysis on Cascades
Cascades Stock Performance
Cascades (TSE:CAS – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported C$0.07 earnings per share (EPS) for the quarter. The company had revenue of C$1.12 billion during the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%. On average, equities research analysts forecast that Cascades will post 1.2959309 EPS for the current year.
Cascades Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 3.9%. Cascades’s dividend payout ratio is currently 48.00%.
Insider Activity at Cascades
In related news, insider Laurent Lemaire acquired 23,302 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of C$10.52 per share, for a total transaction of C$245,137.04. Following the transaction, the insider owned 7,837,637 shares of the company’s stock, valued at approximately C$82,451,941.24. The trade was a 0.30% increase in their ownership of the stock. Company insiders own 23.78% of the company’s stock.
About Cascades
Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.
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