Cascades Inc. (TSE:CAS) to Post Q2 2024 Earnings of $0.06 Per Share, National Bank Financial Forecasts

Cascades Inc. (TSE:CAS - Free Report) - Research analysts at National Bank Financial reduced their Q2 2024 earnings per share (EPS) estimates for shares of Cascades in a report released on Wednesday, April 10th. National Bank Financial analyst Z. Evershed now expects that the company will post earnings of $0.06 per share for the quarter, down from their previous estimate of $0.12. The consensus estimate for Cascades' current full-year earnings is $0.83 per share. National Bank Financial also issued estimates for Cascades' Q3 2024 earnings at $0.25 EPS and Q4 2024 earnings at $0.25 EPS.

Several other analysts have also recently commented on the stock. CIBC lowered their target price on shares of Cascades from C$14.00 to C$12.00 in a research note on Thursday. Desjardins dropped their target price on Cascades from C$14.50 to C$13.00 and set a "hold" rating for the company in a research note on Thursday, March 28th. TD Securities decreased their price target on Cascades from C$16.00 to C$14.00 and set a "buy" rating on the stock in a research note on Friday, February 23rd. National Bankshares dropped their price objective on shares of Cascades from C$13.50 to C$11.00 in a research note on Thursday. Finally, Royal Bank of Canada lowered shares of Cascades from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from C$15.00 to C$14.00 in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of C$12.80.

Cascades Price Performance

TSE:CAS traded down C$0.01 during trading hours on Friday, reaching C$9.34. 124,632 shares of the company traded hands, compared to its average volume of 277,743. Cascades has a 1-year low of C$9.31 and a 1-year high of C$15.00. The stock has a market cap of C$940.63 million, a P/E ratio of -12.29, a P/E/G ratio of 0.56 and a beta of 0.06. The firm's 50-day moving average is C$11.09 and its 200-day moving average is C$12.02. The company has a debt-to-equity ratio of 108.76, a current ratio of 1.33 and a quick ratio of 0.86.

Cascades (TSE:CAS - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported C$0.05 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 for the quarter, compared to analysts' expectations 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 company also recently disclosed a 1 dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, March 21st were issued a $0.48 dividend. This represents a dividend yield of 4.66%. The ex-dividend date was Thursday, March 21st. This is a boost from Cascades's previous 1 dividend of $0.12. Cascades's dividend payout ratio (DPR) is -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.