Cascades Inc (CAS) Shares Down 7.8%
Cascades Inc (TSE:CAS)’s share price was down 7.8% on Monday . The stock traded as low as C$14.86 and last traded at C$14.98. Approximately 353,212 shares traded hands during mid-day trading, an increase of 74% from the average daily volume of 203,441 shares. The stock had previously closed at C$16.25.
Several equities analysts have weighed in on CAS shares. Ci Capital lifted their price objective on Cascades from C$17.00 to C$19.00 in a report on Tuesday, July 4th. Scotiabank reaffirmed a “sector perform” rating and issued a C$17.00 price objective on shares of Cascades in a report on Monday, July 24th. Desjardins dropped their price objective on Cascades from C$17.50 to C$16.00 in a report on Friday, August 11th. TD Securities dropped their price objective on Cascades from C$18.00 to C$17.00 and set a “hold” rating for the company in a report on Friday, August 11th. Finally, Royal Bank Of Canada dropped their price objective on Cascades from C$17.00 to C$16.00 and set a “sector perform” rating for the company in a report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Cascades has an average rating of “Hold” and an average target price of C$16.86.
The firm has a market capitalization of $1.40 billion and a P/E ratio of 2.83. The company has a 50-day moving average price of $14.81 and a 200-day moving average price of $15.47.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, September 1st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Monday, August 21st.
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Cascades Company Profile
Cascades Inc (Cascades) is a Canada-based company that produces, converts and markets packaging and tissue products consisting of recycled fibers. The Company operates through four segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes the Company’s Packaging Products) and Tissue Papers.
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