Cascades (TSE:CAS) Share Price Passes Below 200 Day Moving Average – Here’s Why

Cascades Inc. (TSE:CAS) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$12.00 and traded as low as C$10.84. Cascades shares last traded at C$10.96, with a volume of 105,065 shares traded.

Analysts Set New Price Targets

A number of research firms have weighed in on CAS. National Bank Financial lowered their price objective on Cascades from C$14.00 to C$13.00 and set a “sector perform” rating on the stock in a research note on Friday, May 8th. Royal Bank Of Canada cut their price objective on Cascades from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. TD Securities cut their price objective on Cascades from C$16.00 to C$15.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Scotiabank cut their price target on Cascades from C$16.75 to C$14.50 and set an “outperform” rating on the stock in a report on Monday, April 13th. Finally, Desjardins cut their price target on Cascades from C$15.00 to C$13.00 and set a “hold” rating on the stock in a report on Monday, April 13th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$13.64.

Cascades Trading Up 0.6%

The business has a 50-day moving average of C$10.88 and a 200-day moving average of C$12.00. The company has a debt-to-equity ratio of 113.03, a quick ratio of 0.86 and a current ratio of 1.53. The stock has a market capitalization of C$1.11 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 0.56 and a beta of 1.07.

Cascades (TSE:CAS) last posted its quarterly earnings data on Thursday, May 7th. The company reported C$0.07 earnings per share for the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%.The company had revenue of C$1.13 billion during the quarter. As a group, research analysts forecast that Cascades Inc. will post 1.2959309 EPS for the current year.

Cascades Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, June 4th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, May 21st. Cascades’s dividend payout ratio (DPR) is currently 48.00%.

Insiders Place Their Bets

In other news, insider Laurent Lemaire acquired 23,302 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of C$10.52 per share, with a total value of C$245,137.04. Following the purchase, the insider directly owned 7,837,637 shares of the company’s stock, valued at approximately C$82,451,941.24. This trade represents a 0.30% increase in their position. 23.78% of the stock is owned by insiders.

Cascades Company Profile

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers. The business activity of the company functions in Canada, the United States, Italy, and other countries. Its customer base includes food processing companies, the maintenance industry, accommodations, and housing industry, micro-businesses, and boutiques.