Equities Analysts Issue Forecasts for Cascades Inc.’s Q2 2024 Earnings (TSE:CAS)


Cascades Inc. (TSE:CASFree Report) – Analysts at Desjardins decreased their Q2 2024 earnings per share estimates for Cascades in a research report issued on Wednesday, March 27th. Desjardins analyst F. Tremblay now forecasts that the company will post earnings per share of $0.12 for the quarter, down from their prior forecast of $0.17. Desjardins currently has a “Hold” rating and a $13.00 target price on the stock. The consensus estimate for Cascades’ current full-year earnings is $0.82 per share. Desjardins also issued estimates for Cascades’ Q3 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.26 EPS and FY2025 earnings at $1.19 EPS.

Cascades (TSE:CASGet Free Report) last posted its earnings results on Thursday, February 22nd. The company reported C$0.05 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.25). Cascades had a negative net margin of 1.64% and a negative return on equity of 2.86%. The company had revenue of C$1.14 billion during the quarter, compared to the consensus estimate of C$1.22 billion.

A number of other analysts have also commented on the company. National Bankshares dropped their price target on Cascades from C$14.50 to C$13.50 and set a “sector perform” rating on the stock in a report on Friday, February 23rd. TD Securities dropped their price target on Cascades from C$16.00 to C$14.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. CIBC lowered Cascades from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from C$17.00 to C$14.00 in a report on Friday, February 23rd. Finally, Royal Bank of Canada lowered Cascades from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$15.00 to C$14.00 in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$13.70.

Check Out Our Latest Research Report on CAS

Cascades Stock Down 2.0 %

CAS stock opened at C$9.89 on Friday. Cascades has a twelve month low of C$9.36 and a twelve month high of C$15.00. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 108.76. The stock’s 50 day moving average is C$12.12 and its 200-day moving average is C$12.21. The firm has a market capitalization of C$996.02 million, a PE ratio of -13.01, a P/E/G ratio of 0.56 and a beta of 0.06.

Cascades Increases Dividend

The company also recently disclosed a 1 dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 21st were issued a $0.48 dividend. This is a boost from Cascades’s previous 1 dividend of $0.12. This represents a dividend yield of 4.66%. The ex-dividend date of this dividend was Thursday, March 21st. Cascades’s dividend payout ratio is presently -63.16%.

About Cascades

(Get Free Report)

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.

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