Cascades (TSE:CAS) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Cascades Inc. shares have risen above their 200-day moving average of C$9.43, reaching a high of C$10.09 during trading, and closing at C$9.94 with a trading volume of 79,029 shares.
• Recent analyst ratings show mixed sentiments, with Desjardins reducing its price target to C$10.50 while Royal Bank of Canada raises it to C$11.00, resulting in an average "Hold" rating and a consensus price target of C$11.33.
• Cascades declared a quarterly dividend of $0.12 per share, providing a 4.8% dividend yield, although it has an unusually high payout ratio of -600.00%.

Shares of Cascades Inc. (TSE:CAS - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.43 and traded as high as C$10.09. Cascades shares last traded at C$9.94, with a volume of 79,029 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently commented on CAS shares. Desjardins dropped their price target on 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. TD Securities boosted their price target on Cascades from C$9.50 to C$10.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada boosted their price target on Cascades from C$10.00 to C$11.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. One investment 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, the stock presently has an average rating of "Hold" and a consensus price target of C$11.33.

Cascades Trading Down 0.4%

The business's 50 day moving average price is C$9.56 and its two-hundred day moving average price is C$9.43. 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 company has a market capitalization of C$1.01 billion, a price-to-earnings ratio of -124.25, a P/E/G ratio of 0.56 and a beta of 1.08.

Cascades Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, September 4th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.48 annualized dividend and a dividend yield of 4.8%. Cascades's payout ratio is -600.00%.

About Cascades

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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