National Bank Financial Weighs in on Cascades Inc.’s FY2023 Earnings (TSE:CAS)

Cascades Inc. (TSE:CAS – Get Rating) – Stock analysts at National Bank Financial increased their FY2023 earnings per share estimates for Cascades in a research report issued to clients and investors on Wednesday, January 18th. National Bank Financial analyst Z. Evershed now expects that the company will post earnings per share of $1.62 for the year, up from their prior forecast of $1.48. The consensus estimate for Cascades’ current full-year earnings is $0.88 per share. National Bank Financial also issued estimates for Cascades’ FY2024 earnings at $1.60 EPS.

Other research analysts have also issued research reports about the company. TD Securities cut their price target on Cascades from C$10.50 to C$10.00 and set a “hold” rating on the stock in a report on Friday, November 11th. Scotiabank reduced their target price on Cascades from C$13.00 to C$12.00 in a research report on Monday, January 9th. CIBC reduced their target price on Cascades from C$10.00 to C$9.00 and set a “neutral” rating on the stock in a report on Friday, November 11th. Finally, National Bankshares increased their price target on Cascades from C$7.75 to C$9.00 and gave the company a “sector perform” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Cascades presently has a consensus rating of “Hold” and an average target price of C$12.63.

Cascades Price Performance

Shares of CAS stock opened at C$8.93 on Friday. Cascades has a twelve month low of C$7.71 and a twelve month high of C$14.22. The business has a fifty day simple moving average of C$8.37 and a 200 day simple moving average of C$8.82. The company has a quick ratio of 0.86, a current ratio of 1.63 and a debt-to-equity ratio of 103.53. The company has a market cap of C$896.23 million and a P/E ratio of 6.29.

Cascades (TSE:CAS – Get Rating) last released its earnings results on Thursday, November 10th. The company reported C$0.20 EPS for the quarter, beating the consensus estimate of C$0.18 by C$0.02. The firm had revenue of C$1.17 billion during the quarter, compared to the consensus estimate of C$1.12 billion.

Cascades Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Thursday, December 8th were issued a $0.12 dividend. The ex-dividend date was Thursday, December 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.38%. Cascades’s dividend payout ratio is 33.80%.

Insider Buying and Selling

In other Cascades news, Senior Officer Robert F. Hall purchased 6,410 shares of the business’s stock in a transaction that occurred on Monday, December 19th. The stock was acquired at an average cost of C$7.82 per share, with a total value of C$50,126.20. Following the completion of the acquisition, the insider now directly owns 283,546 shares of the company’s stock, valued at approximately C$2,217,329.72.

About Cascades

(Get Rating)

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 manufactures containerboards, as well as converts corrugated products. The company also offers uncoated recycled paperboards for use in packaging converters and industrial users of headers and wrappers for the paper industry, as well as partitions that are used as protective packaging; honeycomb paperboards for the beer, wine, and spirits industry; laminated paperboards for food packaging and furniture backing industries; and specialty containers, structural components, and paperboard and fiber composites.