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

Cascades Inc. (TSE:CAS) – Equities researchers at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for Cascades in a report issued on Wednesday, April 10th. National Bank Financial analyst Z. Evershed now forecasts that the company will post earnings of $0.58 per share for the year, down from their prior forecast 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.

Other equities analysts also recently issued research reports about the company. National Bankshares reduced their price objective on Cascades from C$13.50 to C$11.00 in a research report on Thursday. Desjardins reduced 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. CIBC reduced their price objective on Cascades from C$14.00 to C$12.00 in a research report on Thursday. TD Securities reduced their price objective on Cascades from C$16.00 to C$14.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Finally, Royal Bank of Canada downgraded Cascades from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$15.00 to C$14.00 in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Cascades presently has an average rating of “Hold” and a consensus price target of C$12.80.

Cascades Stock Performance

Shares of TSE:CAS opened at C$9.34 on Monday. The company has a debt-to-equity ratio of 108.76, a current ratio of 1.33 and a quick ratio of 0.86. The business’s 50 day moving average price is C$11.09 and its 200-day moving average price is C$12.02. The firm has a market capitalization of C$940.63 million, a PE ratio of -12.29, a P/E/G ratio of 0.56 and a beta of 0.06. Cascades has a 1 year low of C$9.31 and a 1 year high of C$15.00.

Cascades (TSE:CAS) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 2.86% and a negative net margin of 1.64%.

Cascades Increases Dividend

The firm also recently announced a 1 dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, March 21st were given a $0.48 dividend. The ex-dividend date was Thursday, March 21st. This represents a yield of 4.66%. This is an increase from Cascades’s previous 1 dividend of $0.12. Cascades’s 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.