Cascades (TSE:CAS) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Cascades Inc. (TSE:CAS)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

CAS has been the topic of several analyst reports. CIBC decreased their price target on Cascades from C$11.00 to C$10.50 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Scotiabank decreased their target price on shares of Cascades from C$12.00 to C$11.00 and set a “sector perform” rating on the stock in a report on Monday, August 12th. Finally, Royal Bank of Canada lowered their target price on shares of Cascades from C$11.00 to C$10.00 in a research note on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Cascades presently has an average rating of “Hold” and a consensus price target of C$11.08.

Cascades Trading Down 0.5 %

The stock’s 50 day simple moving average is C$9.78 and its 200 day simple moving average is C$9.55. The firm has a market cap of C$1.08 billion, a PE ratio of -25.36, 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.

Cascades (TSE:CAS) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.08 earnings per share (EPS) for the quarter, topping 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 net margin of 0.91% and a negative return on equity of 1.44%. On average, sell-side analysts forecast that Cascades Inc. will post 1.2959309 earnings per share for the current fiscal year.

Cascades Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, September 5th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.48 annualized dividend and a dividend yield of 4.51%. Cascades’s dividend payout ratio (DPR) is presently -114.29%.

Insider Buying and Selling

In other Cascades news, Director Hugues Simon purchased 11,000 shares of Cascades stock in a transaction on Friday, August 9th. The shares were acquired at an average cost of C$9.10 per share, for a total transaction of C$100,100.00. 23.78% of the stock is currently owned by corporate insiders.

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.