Equities research analysts predict that Casella Waste Systems Inc. (NASDAQ:CWST) will post $0.32 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Casella Waste Systems’ earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.33. Casella Waste Systems posted earnings per share of $0.30 in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.7%. The company is expected to report its next earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Casella Waste Systems will report full year earnings of $0.67 per share for the current fiscal year, with EPS estimates ranging from $0.62 to $0.73. For the next financial year, analysts forecast that the business will report earnings of $0.81 per share, with EPS estimates ranging from $0.73 to $0.88. Zacks’ earnings per share calculations are an average based on a survey of analysts that that provide coverage for Casella Waste Systems.
Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Thursday, August 2nd. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Casella Waste Systems had a negative return on equity of 63.60% and a net margin of 4.79%. The firm had revenue of $165.65 million during the quarter, compared to analyst estimates of $158.95 million. During the same period in the previous year, the company earned $0.25 EPS. Casella Waste Systems’s revenue for the quarter was up 7.6% on a year-over-year basis.
A number of equities analysts have issued reports on the company. BidaskClub cut Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. Stifel Nicolaus cut Casella Waste Systems from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Monday, August 6th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Monday, July 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Casella Waste Systems currently has a consensus rating of “Hold” and an average price target of $28.00.
Shares of CWST opened at $27.97 on Friday. Casella Waste Systems has a 12-month low of $16.01 and a 12-month high of $29.75. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of -14.47. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 41.75 and a beta of 0.94.
In other news, Director William P. Hulligan sold 10,000 shares of the stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $28.85, for a total value of $288,500.00. Following the completion of the sale, the director now owns 69,484 shares of the company’s stock, valued at $2,004,613.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel David L. Schmitt sold 15,000 shares of the stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $23.63, for a total value of $354,450.00. Following the completion of the sale, the general counsel now directly owns 52,006 shares of the company’s stock, valued at approximately $1,228,901.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,354 shares of company stock valued at $2,049,831. Insiders own 10.64% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Casella Waste Systems in the second quarter valued at about $118,000. Integrated Investment Consultants LLC acquired a new stake in shares of Casella Waste Systems in the second quarter valued at about $135,000. SG Americas Securities LLC acquired a new stake in shares of Casella Waste Systems in the first quarter valued at about $142,000. Sawtooth Solutions LLC acquired a new stake in shares of Casella Waste Systems in the second quarter valued at about $212,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Casella Waste Systems by 328.5% in the second quarter. Meeder Asset Management Inc. now owns 8,921 shares of the industrial products company’s stock valued at $228,000 after buying an additional 6,839 shares during the period. 92.10% of the stock is owned by institutional investors.
Casella Waste Systems Company Profile
Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically-integrated solid waste services company in the northeastern United States. The company operates through Eastern Region, Western Region, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.
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