Cascades (TSE:CAS) Shares Pass 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 changing hands.

Analysts Set New Price Targets

Several brokerages recently commented on CAS. CIBC reduced their price target on Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a research report on Monday, August 12th. Scotiabank cut their price objective on Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a report on Monday, August 12th. Finally, Royal Bank of Canada decreased their target price on shares of Cascades from C$11.00 to C$10.00 in a research note on Thursday, July 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$11.08.

Cascades Stock Performance

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

Cascades (TSE:CAS) last posted its quarterly earnings results 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. Cascades had a negative return on equity of 1.44% and a negative net margin of 0.91%. The business had revenue of C$1.18 billion for the quarter, compared to analysts’ expectations of C$1.17 billion. As a group, analysts forecast that Cascades Inc. will post 1.2904149 earnings per share for the current year.

Cascades Dividend Announcement

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

Insider Buying and Selling

In related news, Director Hugues Simon acquired 11,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was purchased 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 insiders.

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.