Cascades (TSE:CAS) Stock Passes Above 200-Day Moving Average – What’s Next?

Cascades Inc. (TSE:CAS) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$11.81 and traded as high as C$11.87. Cascades shares last traded at C$11.67, with a volume of 229,238 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAS. Scotiabank decreased their price target on Cascades from C$16.75 to C$14.50 and set an “outperform” rating for the company in a research note on Monday, April 13th. National Bank Financial dropped their price objective 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. Desjardins reduced their price objective on Cascades from C$15.00 to C$13.00 and set a “hold” rating for the company in a report on Monday, April 13th. TD reduced their price objective on Cascades from C$14.00 to C$13.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Royal Bank Of Canada decreased their target price on Cascades from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$13.64.

Cascades Stock Performance

The business has a fifty day simple moving average of C$10.99 and a two-hundred day simple moving average of C$11.81. The company has a quick ratio of 0.86, a current ratio of 1.53 and a debt-to-equity ratio of 113.03. The company has a market cap of C$1.18 billion, a P/E ratio of 11.67, a P/E/G ratio of 0.56 and a beta of 1.03.

Cascades (TSE:CAS) last released its quarterly 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$1.12 billion during the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%. On average, sell-side analysts anticipate that Cascades Inc. will post 1.2959309 EPS for the current year.

Cascades Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, June 4th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.1%. Cascades’s dividend payout ratio (DPR) is presently 48.00%.

Insider Activity

In other Cascades news, insider Laurent Lemaire bought 23,302 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of C$10.52 per share, for a total transaction of C$245,137.04. Following the completion of the transaction, the insider owned 7,837,637 shares of the company’s stock, valued at C$82,451,941.24. This represents a 0.30% increase in their position. Insiders own 23.78% of the company’s stock.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.