Cascades (TSE:CAS) Shares Pass Below 200-Day Moving Average of $10.83

Cascades Inc. (TSE:CASGet Rating)’s share price 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.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. National Bankshares cut shares of Cascades from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from C$14.00 to C$10.00 in a report on Friday, August 5th. National Bank Financial cut shares of Cascades from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Thursday, August 4th. Scotiabank reduced their target price on shares of Cascades from C$17.00 to C$15.00 in a report on Friday, August 5th. Finally, Royal Bank of Canada raised shares of Cascades from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$11.00 to C$12.00 in a report on Tuesday, September 13th. 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 stock currently has a consensus rating of “Hold” and a consensus price target of C$13.44.

Cascades Trading Down 2.7 %

The company has a market cap of C$958.82 million and a price-to-earnings ratio of 6.70. The company has a quick ratio of 0.86, a current ratio of 1.60 and a debt-to-equity ratio of 91.81. The company’s 50-day moving average is C$9.38 and its 200 day moving average is C$10.83.

Cascades (TSE:CASGet Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported C$0.10 EPS for the quarter, beating the consensus estimate of C$0.06 by C$0.04. The firm had revenue of C$1.12 billion for the quarter, compared to analyst estimates of C$1.07 billion. Research analysts predict that Cascades Inc. will post 1.21 EPS for the current year.

Cascades Announces Dividend

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

Insider Activity

In related news, Senior Officer Dominic Doré bought 11,650 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 35,353 shares in the company, valued at C$302,975.21. In other Cascades news, Director Mario Plourde purchased 8,300 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were purchased at an average cost of C$9.25 per share, for a total transaction of C$76,775.00. Following the completion of the transaction, the director now owns 273,487 shares of the company’s stock, valued at approximately C$2,529,754.75. Also, Senior Officer Dominic Doré purchased 11,650 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 35,353 shares of the company’s stock, valued at approximately C$302,975.21. Insiders have purchased a total of 24,100 shares of company stock worth $213,367 over 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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