Brokerages forecast that Casella Waste Systems Inc. (NASDAQ:CWST) will report $168.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Casella Waste Systems’ earnings, with the highest sales estimate coming in at $171.00 million and the lowest estimate coming in at $165.00 million. Casella Waste Systems reported sales of $160.27 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The company is scheduled to report its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Casella Waste Systems will report full-year sales of $639.10 million for the current year, with estimates ranging from $638.00 million to $640.20 million. For the next year, analysts expect that the company will post sales of $670.05 million per share, with estimates ranging from $662.00 million to $678.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow 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 for the quarter, missing the consensus estimate 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 business had revenue of $165.65 million for the quarter, compared to analyst estimates of $158.95 million. During the same period last year, the business posted $0.25 EPS. Casella Waste Systems’s revenue was up 7.6% on a year-over-year basis.
Several research analysts have commented on CWST shares. BidaskClub lowered Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. Zacks Investment Research raised Casella Waste Systems from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Friday, July 6th. Finally, Stifel Nicolaus lowered Casella Waste Systems from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Monday, August 6th. They noted that the move was a valuation call. One 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. The stock has a consensus rating of “Hold” and a consensus target price of $28.00.
Shares of NASDAQ CWST opened at $29.06 on Thursday. The stock has a market cap of $1.21 billion, a PE ratio of 43.37 and a beta of 1.03. Casella Waste Systems has a fifty-two week low of $16.64 and a fifty-two week high of $29.75. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of -14.47.
In other news, VP Christopher Heald sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $24.56, for a total value of $98,240.00. Following the transaction, the vice president now owns 89,484 shares of the company’s stock, valued at $2,197,727.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael K. Burke sold 13,845 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $27.72, for a total value of $383,783.40. Following the completion of the transaction, the director now directly owns 60,422 shares in the company, valued at approximately $1,674,897.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,081 shares of company stock worth $1,547,420. 10.64% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in shares of Casella Waste Systems in the second quarter valued at approximately $118,000. Integrated Investment Consultants LLC acquired a new position in shares of Casella Waste Systems in the second quarter valued at approximately $135,000. SG Americas Securities LLC acquired a new position in shares of Casella Waste Systems in the first quarter valued at approximately $142,000. Sawtooth Solutions LLC acquired a new position in shares of Casella Waste Systems in the second quarter valued at approximately $212,000. Finally, Meeder Asset Management Inc. increased its holdings 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 purchasing an additional 6,839 shares during the period. 84.60% of the stock is currently owned by institutional investors and hedge funds.
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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