Cascades FY2024 EPS Increased by National Bank Financial

Cascades Inc. (TSE:CAS) – National Bank Financial increased their FY2024 earnings per share estimates for Cascades in a research report issued on Thursday, November 7th. National Bank Financial analyst Z. Evershed now expects 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.

Several other brokerages have also commented on CAS. CIBC dropped their price target on shares of Cascades from C$11.00 to C$10.50 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Scotiabank lowered their target price on Cascades from C$12.00 to C$11.00 and set a “sector perform” rating on the stock in a research report on Monday, August 12th. TD Securities boosted their price target on Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada increased their price target on Cascades from C$11.00 to C$12.00 in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Cascades presently has a consensus rating of “Hold” and a consensus target price of C$11.92.

Cascades Trading Down 0.7 %

Shares of TSE:CAS opened at C$11.17 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.23 and a debt-to-equity ratio of 119.55. The company’s 50-day moving average price is C$10.22 and its 200 day moving average price is C$9.68. The company has a market cap of C$1.13 billion, a PE ratio of -26.60, a P/E/G ratio of 0.56 and a beta of 0.15. Cascades has a fifty-two week low of C$8.83 and a fifty-two week high of C$15.00.

Cascades Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, December 5th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.48 annualized dividend and a dividend yield of 4.30%. Cascades’s dividend payout ratio (DPR) is -114.29%.

Insider Buying and Selling

In other Cascades news, Senior Officer Luc Langevin sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of C$11.30, for a total value of C$33,900.00. 23.78% of the stock is owned by corporate insiders.

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.