Cascades Inc. (TSE:CAS) to Post FY2024 Earnings of $0.35 Per Share, Desjardins Forecasts

Cascades Inc. (TSE:CAS) – Equities research analysts at Desjardins dropped their FY2024 earnings per share estimates for shares of Cascades in a research report issued on Friday, August 9th. Desjardins analyst F. Tremblay now anticipates that the company will post earnings per share of $0.35 for the year, down from their prior forecast of $0.40. The consensus estimate for Cascades’ current full-year earnings is $0.71 per share. Desjardins also issued estimates for Cascades’ FY2025 earnings at $1.17 EPS.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada cut their target price on shares of Cascades from C$11.00 to C$10.00 in a research note on Thursday, July 11th. CIBC reduced their target price on shares of Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a research note on Monday. TD Securities decreased their target price on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Finally, Scotiabank cut their price target on Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a report on Monday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Cascades presently has an average rating of “Hold” and an average price target of C$11.08.

Cascades Stock Up 1.9 %

CAS opened at C$9.28 on Monday. The business has a 50 day moving average of C$9.27 and a 200-day moving average of C$10.18. The stock has a market capitalization of C$934.59 million, a price-to-earnings ratio of -44.19, a P/E/G ratio of 0.56 and a beta of 0.07. The company has a current ratio of 1.23, a quick ratio of 0.86 and a debt-to-equity ratio of 115.94. Cascades has a 1-year low of C$8.83 and a 1-year high of C$15.00.

Insider Activity at Cascades

In other Cascades news, Director Hugues Simon purchased 11,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was purchased at an average price of C$9.10 per share, for a total transaction of C$100,100.00. In other news, Senior Officer Maryse Fernet sold 13,321 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of C$9.80, for a total value of C$130,545.80. Also, Director Hugues Simon bought 11,000 shares of the stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of C$9.10 per share, for a total transaction of C$100,100.00. Insiders have sold a total of 221,300 shares of company stock valued at $2,134,240 over the last quarter. 23.84% of the stock is owned by company insiders.

Cascades Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, August 22nd. This represents a $0.48 annualized dividend and a dividend yield of 5.17%. Cascades’s dividend payout ratio (DPR) is currently -228.57%.

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.