Cascades Inc. (TSE:CAS) Expected to Earn FY2024 Earnings of $0.58 Per Share

Cascades Inc. (TSE:CAS) – Stock analysts at National Bank Financial cut their FY2024 earnings per share estimates for Cascades in a research report issued to clients and investors on Wednesday, April 10th. National Bank Financial analyst Z. Evershed now anticipates that the company will earn $0.58 per share for the year, down from their previous estimate of $0.80. The consensus estimate for Cascades’ current full-year earnings is $0.83 per share. National Bank Financial also issued estimates for Cascades’ FY2025 earnings at $1.03 EPS.

Several other research analysts have also recently weighed in on CAS. Desjardins cut their price objective on Cascades from C$14.50 to C$13.00 and set a “hold” rating on the stock in a research report on Thursday, March 28th. National Bankshares cut their price objective on Cascades from C$13.50 to C$11.00 in a research report on Thursday, April 11th. TD Securities cut their price objective on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research report on Tuesday. CIBC cut their price objective on Cascades from C$14.00 to C$12.00 in a research report on Thursday, April 11th. Finally, Royal Bank of Canada cut Cascades from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$15.00 to C$14.00 in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Cascades presently has a consensus rating of “Hold” and a consensus target price of C$12.20.

Cascades Trading Up 0.8 %

Shares of Cascades stock opened at C$9.39 on Monday. The stock has a fifty day simple moving average of C$10.89 and a 200 day simple moving average of C$11.98. Cascades has a 12-month low of C$9.16 and a 12-month high of C$15.00. The company has a market capitalization of C$945.67 million, a P/E ratio of -12.36, a price-to-earnings-growth ratio of 0.56 and a beta of 0.06. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 108.76.

Cascades (TSE:CAS) last announced its quarterly earnings results on Thursday, February 22nd. The company reported C$0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.30 by C($0.25). Cascades had a negative return on equity of 2.86% and a negative net margin of 1.64%. The company had revenue of C$1.14 billion for the quarter, compared to the consensus estimate of C$1.22 billion.

Cascades Increases Dividend

The company also recently declared a 1 dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 21st were given a dividend of $0.48 per share. This represents a dividend yield of 4.66%. The ex-dividend date was Thursday, March 21st. This is a boost from Cascades’s previous 1 dividend of $0.12. Cascades’s dividend payout ratio is currently -63.16%.

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.