Cascades (CAS) Raised to Buy at Desjardins

Desjardins upgraded shares of Cascades (TSE:CAS) from a hold rating to a buy rating in a research note published on Wednesday morning. They currently have C$15.50 target price on the stock, up from their prior target price 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.

Other analysts also recently issued research reports about the company. TD Securities decreased their target price 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. Scotiabank set a C$17.00 target price on Cascades and gave the company a sector perform rating in a research note on Friday, August 11th. Royal Bank Of Canada decreased their target price on Cascades from C$17.00 to C$16.00 and set a sector perform rating on the stock in a research note on Thursday, August 17th. National Bank Financial lifted their target price on Cascades from C$19.00 to C$21.00 and gave the company an outperform rating in a research note on Friday, October 13th. Finally, CIBC downgraded Cascades from an outperform rating to a neutral rating in a research note on Monday, September 25th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of C$16.79.

Shares of Cascades (TSE:CAS) opened at C$13.44 on Wednesday. Cascades has a 12 month low of C$11.21 and a 12 month high of C$18.20.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, December 1st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Tuesday, November 21st. Cascades’s dividend payout ratio (DPR) is presently 3.44%.

In related news, insider Bernard Lemaire sold 118,500 shares of Cascades stock in a transaction that occurred on 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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