Cascades (TSE:CAS) Sets New 52-Week Low - Here's What Happened

Cascades Inc. (TSE:CAS - Get Free Report)'s share price reached a new 52-week low on Wednesday . The stock traded as low as C$8.30 and last traded at C$8.65, with a volume of 918857 shares traded. The stock had previously closed at C$8.35.

Analyst Ratings Changes

Several research firms have recently weighed in on CAS. TD Securities downgraded shares of Cascades from a "buy" rating to a "hold" rating and dropped their target price for the stock from C$12.00 to C$9.50 in a research report on Friday, May 9th. National Bankshares dropped their target price on shares of Cascades from C$14.00 to C$11.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. CIBC dropped their target price on shares of Cascades from C$13.00 to C$10.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada dropped their target price on shares of Cascades from C$13.00 to C$11.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Scotiabank raised shares of Cascades from a "hold" rating to a "strong-buy" rating and lifted their target price for the stock from C$12.00 to C$15.50 in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of C$11.40.

Cascades Stock Performance

The company has a debt-to-equity ratio of 121.37, a current ratio of 1.22 and a quick ratio of 0.86. The firm has a market capitalization of C$874.96 million, a price-to-earnings ratio of -11.67, a PEG ratio of 0.56 and a beta of 0.15. The firm's fifty day moving average is C$9.42 and its 200 day moving average is C$11.03.

Cascades Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, June 5th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend is Thursday, May 22nd. Cascades's dividend payout ratio is currently -64.73%.

Insider Buying and Selling

In related news, Senior Officer Luc Langevin sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of C$9.82, for a total transaction of C$88,380.00. 23.78% of the stock is currently owned by corporate 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.

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