Shares of Cascades Inc. (TSE:CAS – Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$9.51 and traded as high as C$10.90. Cascades shares last traded at C$10.58, with a volume of 205,331 shares changing hands.
Wall Street Analysts Forecast Growth
CAS has been the subject of a number of research reports. Royal Bank of Canada decreased their target price on Cascades from C$11.00 to C$10.00 in a research note on Thursday, July 11th. Scotiabank reduced their price objective on 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, CIBC lowered their price objective on Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$11.08.
View Our Latest Research Report on Cascades
Cascades Trading Down 2.2 %
Cascades (TSE:CAS – Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported C$0.08 earnings per share for the quarter, topping 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 research analysts anticipate that Cascades Inc. will post 1.2904412 EPS for the current fiscal year.
Cascades Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, September 5th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.54%. Cascades’s dividend payout ratio is currently -114.29%.
Insiders Place Their Bets
In other news, Director Hugues Simon bought 11,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of C$9.10 per share, with a total value of C$100,100.00. Corporate insiders own 23.78% of the company’s stock.
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.
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