National Bank Financial Boosts Cascades (TSE:CAS) Price Target to C$14.50

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Cascades (TSE:CAS) had its price target hoisted by National Bank Financial from C$13.00 to C$14.50 in a research note issued to investors on Monday, BayStreet.CA reports. The firm currently has an outperform rating on the stock. National Bank Financial also issued estimates for Cascades’ Q3 2019 earnings at $0.37 EPS, Q4 2019 earnings at $0.24 EPS, FY2019 earnings at $1.02 EPS and FY2020 earnings at $1.43 EPS.

Other equities research analysts also recently issued reports about the stock. CIBC increased their price objective on shares of Cascades from C$10.00 to C$11.00 in a research report on Monday, May 13th. Royal Bank of Canada increased their price objective on shares of Cascades from C$12.00 to C$14.00 in a research report on Tuesday, July 9th. TD Securities downgraded shares of Cascades from a buy rating to a hold rating and set a C$13.50 price objective on the stock. in a research report on Tuesday, July 16th. Finally, Raymond James increased their price objective on shares of Cascades from C$14.00 to C$15.00 in a research report on Monday.

Cascades stock opened at C$12.08 on Monday. The firm has a market cap of $1.14 billion and a price-to-earnings ratio of 59.80. Cascades has a 52-week low of C$7.55 and a 52-week high of C$13.94. The company has a debt-to-equity ratio of 119.03, a quick ratio of 0.80 and a current ratio of 1.43. The business’s 50 day simple moving average is C$11.85.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, September 6th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This is an increase from Cascades’s previous quarterly dividend of $0.04. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.65%. Cascades’s dividend payout ratio is currently 79.21%.

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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