Cascades (TSE:CAS) Share Price Passes Below 200-Day Moving Average of $10.83

Cascades Inc. (TSE:CASGet Rating) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.83 and traded as low as C$9.45. Cascades shares last traded at C$9.51, with a volume of 157,951 shares trading hands.

Analyst Ratings Changes

CAS has been the subject of a number of research reports. National Bankshares lowered shares of Cascades from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$14.00 to C$10.00 in a research note on Friday, August 5th. Scotiabank cut their price objective on shares of Cascades from C$17.00 to C$15.00 in a research report on Friday, August 5th. Royal Bank of Canada raised shares of Cascades from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$11.00 to C$12.00 in a research report on Tuesday, September 13th. Finally, National Bank Financial downgraded shares of Cascades from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$13.44.

Cascades Price Performance

The company has a market cap of C$958.82 million and a P/E ratio of 6.70. The company has a debt-to-equity ratio of 91.81, a quick ratio of 0.86 and a current ratio of 1.60. The firm’s fifty day moving average is C$9.38 and its two-hundred day moving average is C$10.83.

Cascades (TSE:CASGet Rating) last issued its earnings results on Thursday, August 4th. The company reported C$0.10 earnings per share for the quarter, topping the consensus estimate of C$0.06 by C$0.04. The firm had revenue of C$1.12 billion during the quarter, compared to the consensus estimate of C$1.07 billion. As a group, analysts anticipate that Cascades Inc. will post 1.21 earnings per share for the current fiscal year.

Cascades Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, September 1st were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend was Tuesday, August 16th. Cascades’s dividend payout ratio is currently 33.80%.

Insiders Place Their Bets

In related news, Senior Officer Dominic Doré purchased 11,650 shares of the firm’s stock in a transaction on Friday, August 5th. The shares were acquired at an average price of C$8.57 per share, for a total transaction of C$99,840.50. Following the purchase, the insider now directly owns 35,353 shares in the company, valued at C$302,975.21. In related news, Director Mario Plourde purchased 8,300 shares of the firm’s stock in a transaction on Friday, August 19th. The shares were acquired at an average price of C$9.25 per share, for a total transaction of C$76,775.00. Following the purchase, the director now directly owns 273,487 shares in the company, valued at C$2,529,754.75. Also, Senior Officer Dominic Doré purchased 11,650 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was bought at an average price of C$8.57 per share, for a total transaction of C$99,840.50. Following the purchase, the insider now owns 35,353 shares in the company, valued at C$302,975.21. Insiders have purchased a total of 24,100 shares of company stock worth $213,367 in the last 90 days.

Cascades Company Profile

(Get Rating)

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 manufactures containerboards, as well as converts corrugated products. The company also offers uncoated recycled paperboards for use in packaging converters and industrial users of headers and wrappers for the paper industry, as well as partitions that are used as protective packaging; honeycomb paperboards for the beer, wine, and spirits industry; laminated paperboards for food packaging and furniture backing industries; and specialty containers, structural components, and paperboard and fiber composites.

Further Reading

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