Q2 2024 EPS Estimates for Cascades Inc. Lowered by Analyst (TSE:CAS)

Cascades Inc. (TSE:CAS) – Investment analysts at National Bank Financial lowered their Q2 2024 earnings per share estimates for Cascades in a note issued to investors on Wednesday, July 24th. National Bank Financial analyst Z. Evershed now anticipates that the company will post earnings per share of $0.10 for the quarter, down from their prior forecast of $0.13. The consensus estimate for Cascades’ current full-year earnings is $0.71 per share. National Bank Financial also issued estimates for Cascades’ Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.60 EPS and FY2025 earnings at $1.08 EPS.

Several other research analysts have also recently weighed in on CAS. National Bankshares reduced their price target on shares of Cascades from C$13.50 to C$11.00 in a report on Thursday, April 11th. CIBC reduced their target price on shares of Cascades from C$12.00 to C$11.00 in a research note on Thursday, July 18th. TD Securities dropped their price target on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Scotiabank reduced their price objective on Cascades from C$13.50 to C$12.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada decreased their price objective on Cascades from C$11.00 to C$10.00 in a report on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$11.33.

Cascades Price Performance

TSE CAS opened at C$9.81 on Monday. The company has a debt-to-equity ratio of 115.94, a quick ratio of 0.86 and a current ratio of 1.23. The stock has a market cap of C$987.97 million, a price-to-earnings ratio of -46.71, a PEG ratio of 0.56 and a beta of 0.07. The business has a 50 day simple moving average of C$9.30 and a 200 day simple moving average of C$10.54. Cascades has a 52-week low of C$8.83 and a 52-week high of C$15.00.

Insider Activity

In other Cascades news, Director Mario Plourde sold 91,680 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of C$9.80, for a total value of C$898,464.00. In other news, Senior Officer Maryse Fernet sold 13,321 shares of Cascades stock in a transaction dated 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 Mario Plourde sold 91,680 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of C$9.80, for a total transaction of C$898,464.00. Insiders sold 221,300 shares of company stock worth $2,134,240 in the last quarter. Corporate insiders own 23.84% of the company’s stock.

Cascades Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, June 6th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, June 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.89%. Cascades’s dividend payout ratio is -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.