Cascades (TSE:CAS) Shares Pass 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$10.37 and traded as high as C$12.33. Cascades shares last traded at C$12.22, with a volume of 25,788 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CAS shares. Royal Bank Of Canada raised their target price on shares of Cascades from C$14.00 to C$16.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. TD Securities lifted their price objective on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Scotiabank upped their target price on Cascades from C$12.00 to C$13.50 in a research note on Monday, November 10th. Desjardins lifted their price target on Cascades from C$10.50 to C$13.50 and gave the company a “hold” rating in a research note on Friday, November 7th. Finally, CIBC boosted their price target on Cascades from C$12.00 to C$13.00 in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$13.50.

Cascades Trading Down 0.7%

The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22. The firm has a market cap of C$1.24 billion, a price-to-earnings ratio of 61.10, a PEG ratio of 0.56 and a beta of 1.03. The business has a fifty day simple moving average of C$12.06 and a 200-day simple moving average of C$10.39.

Cascades (TSE:CAS) last announced its quarterly earnings results on Thursday, November 6th. The company reported C$0.38 EPS for the quarter. Cascades had a negative return on equity of 4.35% and a negative net margin of 1.62%.The firm had revenue of C$1.24 billion for the quarter. As a group, equities analysts forecast that Cascades Inc. will post 1.2959309 earnings per share for the current fiscal year.

Cascades Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, December 4th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.9%. The ex-dividend date was Thursday, November 20th. Cascades’s dividend payout ratio is 240.00%.

Insider Activity

In other news, insider J�R�Me Porlier sold 4,000 shares of Cascades stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of C$12.49, for a total transaction of C$49,960.00. Following the transaction, the insider owned 24,467 shares in the company, valued at approximately C$305,592.83. The trade was a 14.05% decrease in their ownership of the stock. Insiders own 23.78% of the company’s stock.

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.