Shares of Cascades Inc. (TSE:CAS – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.50 and traded as high as C$9.56. Cascades shares last traded at C$9.47, with a volume of 241,131 shares traded.
Analysts Set New Price Targets
A number of equities analysts have commented on CAS shares. CIBC reduced their target price on shares of Cascades from C$11.00 to C$10.50 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Scotiabank dropped their price target on shares of Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a research report on Monday, August 12th. Finally, Royal Bank of Canada dropped their price target on shares of Cascades from C$11.00 to C$10.00 in a research report on Thursday, July 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Cascades has a consensus rating of “Hold” and a consensus price target of C$11.08.
View Our Latest Stock Report on CAS
Cascades Trading Up 2.9 %
Cascades (TSE:CAS – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.08 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.02. The firm had revenue of C$1.18 billion during the quarter, compared to analysts’ expectations of C$1.17 billion. Cascades had a negative net margin of 0.91% and a negative return on equity of 1.44%. Equities analysts forecast that Cascades Inc. will post 1.2904149 earnings per share for the current year.
Cascades Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, September 5th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend was Thursday, September 5th. Cascades’s dividend payout ratio (DPR) is currently -114.29%.
Insider Activity at Cascades
In other news, Director Hugues Simon purchased 11,000 shares of the stock in a transaction on Friday, August 9th. The stock was bought at an average price of C$9.10 per share, for a total transaction of C$100,100.00. Company insiders own 23.78% of the company’s stock.
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.
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