National Bank Financial Forecasts Cascades FY2024 Earnings

Cascades Inc. (TSE:CAS) – Equities research analysts at National Bank Financial upped their FY2024 earnings per share estimates for shares of Cascades in a research report issued on Thursday, November 7th. National Bank Financial analyst Z. Evershed now anticipates that the company will post earnings per share of $0.56 for the year, up from their prior estimate of $0.50. The consensus estimate for Cascades’ current full-year earnings is $1.30 per share.

A number of other brokerages have also recently issued reports on CAS. TD Securities lifted their target price on Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a report on Friday. CIBC reduced their price objective on Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a research report on Monday, August 12th. Royal Bank of Canada upped their price objective on shares of Cascades from C$11.00 to C$12.00 in a report on Friday. Finally, Scotiabank cut their target price on shares of Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a research report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$11.92.

Cascades Price Performance

Shares of Cascades stock opened at C$11.25 on Monday. The stock has a market cap of C$1.14 billion, a PE ratio of -26.79, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15. Cascades has a 52 week low of C$8.83 and a 52 week high of C$15.00. The company has a current ratio of 1.23, a quick ratio of 0.86 and a debt-to-equity ratio of 119.55. The company’s 50-day moving average price is C$10.18 and its two-hundred day moving average price is C$9.67.

Cascades Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.48 annualized dividend and a yield of 4.27%. Cascades’s dividend payout ratio is -114.29%.

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.