Insider Selling: Cascades Inc. (TSE:CAS) Director Sells C$898,464.00 in Stock

Cascades Inc. (TSE:CAS) Director Mario Plourde sold 91,680 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of C$9.80, for a total value of C$898,464.00.

Cascades Stock Down 2.1 %

TSE CAS opened at C$9.53 on Friday. The stock has a fifty day moving average of C$9.64 and a 200-day moving average of C$11.61. The stock has a market capitalization of C$959.77 million, a P/E ratio of -45.38, a price-to-earnings-growth ratio of 0.56 and a beta of 0.07. Cascades Inc. has a 52 week low of C$9.10 and a 52 week high of C$15.00. The company has a debt-to-equity ratio of 115.94, a quick ratio of 0.86 and a current ratio of 1.23.

Cascades (TSE:CAS) last released its earnings results on Thursday, February 22nd. The company reported C$0.05 EPS for the quarter, missing the consensus estimate of C$0.30 by C($0.25). The firm had revenue of C$1.14 billion during the quarter, compared to analyst estimates of C$1.22 billion. Cascades had a negative net margin of 0.46% and a negative return on equity of 0.17%. On average, equities research analysts forecast that Cascades Inc. will post 0.7103548 EPS for the current year.

Cascades Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, June 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.48 annualized dividend and a dividend yield of 5.04%. Cascades’s dividend payout ratio (DPR) is currently -228.57%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CAS shares. Royal Bank of Canada raised their target price on Cascades from C$11.00 to C$12.00 in a research report on Friday, May 10th. CIBC dropped their price target on Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th. Desjardins dropped their price target on Cascades from C$14.50 to C$13.00 and set a “hold” rating for the company in a report on Thursday, March 28th. TD Securities dropped their price target on Cascades from C$12.00 to C$11.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Finally, Scotiabank dropped their price target on Cascades from C$13.50 to C$12.00 and set a “sector perform” rating for the company in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$11.83.

Cascades Company Profile

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.