Cascades Inc. (TSE:CAS – Get Free Report)’s share price passed 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 trading hands.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on CAS shares. Royal Bank Of Canada decreased their target price on Cascades from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. National Bank Financial decreased their target price on Cascades from C$14.00 to C$13.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. Scotiabank decreased their target price on Cascades from C$16.75 to C$14.50 and set an “outperform” rating on the stock in a research report on Monday, April 13th. TD Securities decreased their target price on Cascades from C$16.00 to C$15.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Finally, Desjardins decreased their target price on Cascades from C$15.00 to C$13.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$13.64.
Cascades Stock Performance
Cascades (TSE:CAS – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported C$0.07 earnings per share (EPS) for the quarter. Cascades had a net margin of 2.15% and a return on equity of 5.95%. The firm had revenue of C$1.13 billion for the quarter. Analysts forecast that Cascades Inc. will post 1.2959309 earnings per share for the current fiscal year.
Cascades Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Thursday, May 21st. Cascades’s dividend payout ratio is presently 48.00%.
Insider Activity
In other news, insider Laurent Lemaire acquired 23,302 shares of Cascades stock in a transaction on Wednesday, May 13th. The shares were purchased at an average cost of C$10.52 per share, for a total transaction of C$245,137.04. Following the completion of the purchase, the insider directly owned 7,837,637 shares of the company’s stock, valued at approximately C$82,451,941.24. This represents a 0.30% increase in their position. 23.78% of the stock is currently owned by insiders.
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. 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.
Featured Stories
- Five stocks we like better than Cascades
- AI Server Earnings: Wall Street Sees One Clear Standout
- Navitas: NVIDIA’s AI Power Broker?
- A Lulu of a Miss Sends Lululemon to New Lows—Look Out Below
- NVIDIA’s New Power Play: Why Fluence Is Surging
Receive News & Ratings for Cascades Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cascades and related companies with MarketBeat.com's FREE daily email newsletter.
