Cascades (TSE:CAS) Insider Laurent Lemaire Acquires 23,302 Shares of Stock

Cascades Inc. (TSE:CAS) insider Laurent Lemaire purchased 23,302 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of C$10.52 per share, with a total value of C$245,137.04. Following the transaction, 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 ownership of the stock.

Cascades Stock Up 0.1%

TSE CAS opened at C$10.48 on Thursday. The company has a current ratio of 1.53, a quick ratio of 0.86 and a debt-to-equity ratio of 113.03. The stock’s 50 day moving average is C$11.16 and its two-hundred day moving average is C$12.11. The company has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 0.56 and a beta of 1.07. Cascades Inc. has a 1-year low of C$8.49 and a 1-year high of C$14.20.

Cascades (TSE:CAS) last issued its earnings results on Thursday, May 7th. The company reported C$0.07 earnings per share (EPS) for the quarter. The business had revenue of C$1.13 billion during the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%. Equities analysts forecast that Cascades Inc. will post 1.2959309 earnings per share for the current fiscal year.

Cascades Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, June 4th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Thursday, May 21st. Cascades’s payout ratio is currently 48.00%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CAS. TD dropped their target price on shares of Cascades from C$14.00 to C$13.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Scotiabank decreased their price objective on shares of Cascades from C$16.75 to C$14.50 and set an “outperform” rating on the stock in a research note on Monday, April 13th. TD Securities dropped their price objective on shares of Cascades from C$16.00 to C$15.00 and set a “buy” rating for the company in a report on Friday, February 27th. National Bank Financial cut their target price on shares of Cascades from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Finally, Royal Bank Of Canada reduced their target price on Cascades from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$13.64.

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.