Cascades (TSE:CAS) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Cascades Inc. (TSE:CAS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.55 and traded as high as C$10.77. Cascades shares last traded at C$10.65, with a volume of 71,075 shares trading hands.

Analysts Set New Price Targets

Several analysts recently commented on CAS shares. CIBC dropped their target price on Cascades from C$11.00 to C$10.50 and set a “neutral” rating on the stock in a report on Monday, August 12th. Scotiabank cut their target price on shares of Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Finally, Royal Bank of Canada reduced their price objective on Cascades from C$11.00 to C$10.00 in a research note on Thursday, July 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Cascades has a consensus rating of “Hold” and an average price target of C$11.08.

Cascades Trading Down 0.9 %

The firm has a market capitalization of C$1.08 billion, a price-to-earnings ratio of -25.40, a PEG ratio of 0.56 and a beta of 0.15. The company has a debt-to-equity ratio of 119.55, a quick ratio of 0.86 and a current ratio of 1.23. The company has a 50-day moving average price of C$9.84 and a 200-day moving average price of C$9.56.

Cascades (TSE:CAS) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.08 EPS for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.02. Cascades had a negative net margin of 0.91% and a negative return on equity of 1.44%. The company had revenue of C$1.18 billion for the quarter, compared to analyst estimates of C$1.17 billion. As a group, research analysts forecast that Cascades Inc. will post 1.2959309 EPS for the current fiscal year.

Cascades Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, September 5th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.48 annualized dividend and a yield of 4.50%. Cascades’s payout ratio is currently -114.29%.

Insider Transactions at Cascades

In other Cascades news, Director Hugues Simon purchased 11,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of C$9.10 per share, with a total value of C$100,100.00. Corporate insiders own 23.78% of the company’s stock.

About Cascades

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.