Cascades (TSE:CAS) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Cascades Inc. shares have crossed above the 200-day moving average, trading at C$9.68 with a volume of 103,932 shares, which indicates potential upward momentum for the stock.
• Equities analysts have mixed views, with price targets ranging from C$10.00 to C$11.00, and a current consensus rating of "Hold" for the stock based on various analysts' reports.
• Cascades declared a quarterly dividend of $0.12 per share, resulting in an annualized yield of 5.0%, despite a negative dividend payout ratio of -600.00%.

Shares of Cascades Inc. (TSE:CAS - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.36 and traded as high as C$9.76. Cascades shares last traded at C$9.68, with a volume of 103,932 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada increased their price target on shares of Cascades from C$10.00 to C$11.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Desjardins decreased their price target on shares of Cascades from C$11.00 to C$10.50 and set a "hold" rating for the company in a research note on Monday, August 11th. Finally, TD Securities increased their price target on shares of Cascades from C$9.50 to C$10.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cascades currently has a consensus rating of "Hold" and an average price target of C$11.33.

Cascades Trading Down 0.7%

The firm has a market cap of C$980.17 million, a PE ratio of -121.00, a PEG ratio of 0.56 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37. The stock's fifty day simple moving average is C$9.63 and its two-hundred day simple moving average is C$9.36.

Cascades Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, September 4th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Thursday, August 21st. Cascades's dividend payout ratio is -600.00%.

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.

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