Cascades Inc. (TSE:CAS - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$10.89 and traded as low as C$8.73. Cascades shares last traded at C$8.74, with a volume of 226,433 shares changing hands.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on CAS shares. CIBC cut their price target on Cascades from C$13.00 to C$10.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada cut their target price on shares of Cascades from C$13.00 to C$11.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 22nd. National Bankshares cut their price objective on shares of Cascades from C$14.00 to C$11.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. Finally, TD Securities downgraded shares of Cascades from a "buy" rating to a "hold" rating and cut their price objective for the stock from C$12.00 to C$9.50 in a research report on Friday, May 9th. Four 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, Cascades presently has an average rating of "Hold" and a consensus target price of C$11.40.
Read Our Latest Research Report on Cascades
Cascades Stock Up 0.5%
The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37. The firm's 50 day simple moving average is C$9.08 and its two-hundred day simple moving average is C$10.86. The firm has a market cap of C$901.26 million, a price-to-earnings ratio of -12.02, a PEG ratio of 0.56 and a beta of 0.15.
Cascades Dividend Announcement
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 paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Thursday, May 22nd. Cascades's dividend payout ratio (DPR) is presently -64.73%.
Insider Activity at Cascades
In other Cascades news, Director Nelson Gentiletti purchased 6,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was bought at an average price of C$8.69 per share, with a total value of C$52,140.00. Also, Senior Officer Luc Langevin sold 9,000 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of C$9.82, for a total value of C$88,380.00. 23.78% of the stock is owned by insiders.
About Cascades
(
Get Free Report)
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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