Cascades (TSE:CAS) Share Price Passes Above 200-Day Moving Average of $9.50

Shares of Cascades Inc. (TSE:CAS) 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 trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on CAS. Scotiabank lowered their price target on 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. Royal Bank of Canada lowered their price target on Cascades from C$11.00 to C$10.00 in a report on Thursday, July 11th. Finally, CIBC lowered their price target on Cascades from C$11.00 to C$10.50 and set a “neutral” rating on the stock in a report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$11.08.

Cascades Stock Up 0.5 %

The company has a market capitalization of C$961.42 million, a P/E ratio of -22.67, a PEG ratio of 0.56 and a beta of 0.13. The firm has a 50-day moving average price of C$9.30 and a two-hundred day moving average price of C$9.50. The company has a quick ratio of 0.86, a current ratio of 1.23 and a debt-to-equity ratio of 119.55.

Cascades (TSE:CAS) last issued its earnings results on Thursday, August 8th. The company reported C$0.08 EPS for the quarter, topping the consensus estimate 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 return on equity of 1.44% and a negative net margin of 0.91%. Equities research analysts anticipate that Cascades Inc. will post 1.2904149 EPS for the current fiscal year.

Cascades Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, September 5th were given a $0.12 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.48 annualized dividend and a yield of 5.04%. Cascades’s dividend payout ratio (DPR) is currently -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 bought at an average cost of C$9.10 per share, with a total value of C$100,100.00. 23.78% of the stock is 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.