Cascades Inc (TSE:CAS) Director Alain Lemaire Sells 34,656 Shares

Cascades Inc (TSE:CAS) Director Alain Lemaire sold 34,656 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of C$11.81, for a total transaction of C$409,287.36. Following the completion of the sale, the director now directly owns 396,460 shares of the company’s stock, valued at approximately C$4,682,192.60.

CAS traded up C$0.31 during trading hours on Wednesday, reaching C$12.20. 271,083 shares of the stock traded hands, compared to its average volume of 253,536. The firm’s fifty day simple moving average is C$11.49 and its two-hundred day simple moving average is C$11.80. The company has a market cap of $1.10 billion and a price-to-earnings ratio of 16.52. Cascades Inc has a fifty-two week low of C$7.55 and a fifty-two week high of C$13.44. The company has a debt-to-equity ratio of 127.13, a current ratio of 1.34 and a quick ratio of 0.76.

Cascades (TSE:CAS) last released its quarterly earnings results on Thursday, February 27th. The company reported C$0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.18 by C$0.12. The firm had revenue of C$1.23 billion for the quarter, compared to analyst estimates of C$1.21 billion. On average, research analysts predict that Cascades Inc will post 1.1343731 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 26th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Wednesday, March 11th. Cascades’s payout ratio is 27.40%.

Several equities research analysts have recently issued reports on the stock. National Bank Financial increased their price objective on shares of Cascades from C$13.50 to C$14.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. TD Securities dropped their price objective on shares of Cascades from C$13.00 to C$12.50 and set a “hold” rating for the company in a research report on Friday, February 28th. Finally, CIBC raised shares of Cascades from a “neutral” rating to an “outperform” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of C$14.10.

About Cascades

Cascades Inc produces, converts, and markets packaging and tissue products in Canada, the United States, and internationally. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It offers containerboards, and coated recycled and virgin boxboards, as well as converts corrugated products.

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Insider Buying and Selling by Quarter for Cascades (TSE:CAS)

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