What is Scotiabank’s Forecast for Cascades FY2024 Earnings?

Cascades Inc. (TSE:CAS) – Research analysts at Scotiabank boosted their FY2024 earnings per share estimates for Cascades in a report issued on Wednesday, January 8th. Scotiabank analyst J. Goldman now anticipates that the company will post earnings per share of $0.64 for the year, up from their prior estimate of $0.48. The consensus estimate for Cascades’ current full-year earnings is $1.30 per share. Scotiabank also issued estimates for Cascades’ FY2025 earnings at $1.39 EPS.

Other equities research analysts have also recently issued research reports about the company. TD Securities increased their price target on Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada increased their price objective on shares of Cascades from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research report on Friday, December 20th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$12.08.

Cascades Price Performance

TSE:CAS opened at C$12.00 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. Cascades has a 12-month low of C$8.83 and a 12-month high of C$15.00. The stock’s 50 day moving average price is C$11.71 and its two-hundred day moving average price is C$10.38. The firm has a market capitalization of C$1.21 billion, a price-to-earnings ratio of -28.57, a P/E/G ratio of 0.56 and a beta of 0.15.

Cascades Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, December 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.00%. The ex-dividend date was Thursday, November 21st. Cascades’s payout ratio is -114.29%.

Insider Transactions at Cascades

In related news, Senior Officer Luc Langevin sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of C$11.30, for a total value of C$33,900.00. Insiders own 23.78% of the company’s stock.

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.