Cascades (TSE:CAS) Shares Cross Above 200-Day Moving Average of $9.47

Cascades Inc. (TSE:CAS)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.47 and traded as high as C$9.81. Cascades shares last traded at C$9.65, with a volume of 2,781,885 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CAS shares. Royal Bank of Canada reduced their target price on Cascades from C$11.00 to C$10.00 in a report on Thursday, July 11th. Scotiabank decreased their price objective on shares of Cascades from C$12.00 to C$11.00 and set a “sector perform” rating on the stock in a report on Monday, August 12th. Finally, CIBC lowered 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 report on Monday, August 12th. Five investment 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.com, the stock presently has an average rating of “Hold” and a consensus price target of C$11.08.

Cascades Stock Down 1.8 %

The company has a current ratio of 1.23, a quick ratio of 0.86 and a debt-to-equity ratio of 119.55. The firm has a 50 day moving average price of C$9.38 and a 200-day moving average price of C$9.47. The firm has a market cap of C$974.55 million, a price-to-earnings ratio of -22.98, a P/E/G ratio of 0.56 and a beta of 0.13.

Cascades (TSE:CAS) last announced its earnings results on Thursday, August 8th. The company reported C$0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.02. Cascades had a negative net margin of 0.91% and a negative return on equity of 1.44%. The company had revenue of C$1.18 billion during the quarter, compared to analysts’ expectations of C$1.17 billion. On average, equities analysts forecast that Cascades Inc. will post 1.290107 EPS for the current year.

Cascades Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, September 5th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date was Thursday, September 5th. Cascades’s dividend payout ratio (DPR) is presently -114.29%.

Insiders Place Their Bets

In related news, Director Hugues Simon acquired 11,000 shares of Cascades stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of C$9.10 per share, for a total transaction of C$100,100.00. 23.78% of the stock is currently owned by company insiders.

Cascades Company Profile

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.