Key Points
- Insider Allan Hogg sold 17,684 Cascades shares at an average price of C$17.50, generating approximately C$309,470. Following the transaction, his direct ownership fell 13.63% to 112,056 shares.
- Cascades reported quarterly revenue of C$1.22 billion and EPS of C$0.24, while the company declared a quarterly dividend of C$0.12 per share, equivalent to a 2.8% annualized yield.
- Analyst sentiment remains generally positive, with Cascades receiving a “Moderate Buy” consensus rating and a C$16.50 average price target; several firms recently raised their targets or upgraded the stock.
Cascades Inc. (TSE:CAS - Get Free Report) insider Jérôme Nadeau sold 5,234 shares of Cascades stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of C$17.30, for a total transaction of C$90,548.20. Following the completion of the sale, the insider owned 21,997 shares of the company's stock, valued at C$380,548.10. This represents a 19.22% decrease in their position.
Cascades Stock Down 1.6%
Cascades stock opened at C$17.25 on Friday. The company has a market capitalization of C$1.75 billion, a PE ratio of 13.91, a PEG ratio of 0.56 and a beta of 1.04. Cascades Inc. has a 12-month low of C$9.35 and a 12-month high of C$17.97. The firm's fifty day moving average is C$13.30 and its 200 day moving average is C$12.15. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 111.08.
Cascades (TSE:CAS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.24 EPS for the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. The business had revenue of C$1.22 billion during the quarter. As a group, sell-side analysts predict that Cascades Inc. will post 1.2959309 EPS for the current fiscal year.
Cascades Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, August 20th. Cascades's dividend payout ratio is 38.71%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on CAS. Canadian Imperial Bank of Commerce raised Cascades from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. Desjardins increased their price target on Cascades from C$13.00 to C$19.00 and gave the stock a "hold" rating in a report on Monday, August 10th. Scotia raised their price objective on Cascades from C$16.00 to C$20.50 and gave the company a "sector outperform" rating in a research note on Friday, August 14th. TD boosted their price objective on Cascades from C$13.00 to C$15.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada upped their target price on Cascades from C$15.00 to C$18.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Cascades presently has a consensus rating of "Moderate Buy" and an average target price of C$16.50.
Get Our Latest Analysis on CAS
Cascades Company Profile
(
Get Free Report)
Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.
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