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

Cascades Inc. (TSE:CAS) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.55 and traded as high as C$12.76. Cascades shares last traded at C$12.63, with a volume of 257,632 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. TD Securities upped their price objective on shares of Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada boosted their price target on shares of Cascades from C$12.00 to C$13.00 and gave the stock a “sector perform” rating in a research note on Friday, December 20th. Finally, CIBC raised their price objective on shares of Cascades from C$12.00 to C$13.00 in a research report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Cascades presently has an average rating of “Hold” and a consensus target price of C$12.50.

Cascades Stock Performance

The company has a debt-to-equity ratio of 119.55, a current ratio of 1.23 and a quick ratio of 0.86. The company has a 50 day simple moving average of C$11.93 and a 200-day simple moving average of C$10.55. The firm has a market cap of C$1.28 billion, a PE ratio of -30.07, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15.

Cascades (TSE:CAS) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.14 by C$0.13. Cascades had a negative net margin of 0.91% and a negative return on equity of 1.44%. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, equities research analysts anticipate that Cascades Inc. will post 1.2959309 EPS for the current year.

Cascades Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, December 5th were issued a $0.12 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.48 annualized dividend and a dividend yield of 3.80%. Cascades’s dividend payout ratio is currently -114.29%.

Insider Activity at Cascades

In related news, Senior Officer Luc Langevin sold 3,000 shares of Cascades stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of C$11.30, for a total value of C$33,900.00. 23.78% of the stock is currently owned by company insiders.

Cascades Company Profile

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.