Shares of Cascades Inc. (TSE:CAS – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.64 and traded as high as C$11.52. Cascades shares last traded at C$11.19, with a volume of 378,839 shares trading hands.
Wall Street Analysts Forecast Growth
CAS has been the topic of a number of recent research reports. CIBC dropped their price objective on shares of Cascades from C$11.00 to C$10.50 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Scotiabank lowered their price objective on Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a research report on Monday, August 12th. Finally, Royal Bank of Canada cut their price objective on shares of Cascades from C$11.00 to C$10.00 in a report on Thursday, July 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$11.08.
View Our Latest Research Report on Cascades
Cascades Price Performance
Cascades (TSE:CAS – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.02. The company had revenue of C$1.18 billion during the quarter, compared to the consensus estimate of C$1.17 billion. Cascades had a negative return on equity of 1.44% and a negative net margin of 0.91%. As a group, analysts predict that Cascades Inc. will post 1.2959309 earnings per share for the current fiscal year.
Cascades Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, December 5th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.48 annualized dividend and a yield of 4.29%. Cascades’s dividend payout ratio is presently -114.29%.
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.
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