Analysts Anticipate Caesarstone Ltd (CSTE) to Post $0.27 Earnings Per Share

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Wall Street analysts forecast that Caesarstone Ltd (NASDAQ:CSTE) will report $0.27 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Caesarstone’s earnings. Caesarstone posted earnings of $0.37 per share in the same quarter last year, which would suggest a negative year over year growth rate of 27%. The business is scheduled to announce its next quarterly earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Caesarstone will report full-year earnings of $1.06 per share for the current financial year, with EPS estimates ranging from $1.04 to $1.07. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.04 per share, with EPS estimates ranging from $0.78 to $1.30. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Caesarstone.

Caesarstone (NASDAQ:CSTE) last posted its quarterly earnings results on Wednesday, August 8th. The construction company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.18. Caesarstone had a return on equity of 5.64% and a net margin of 2.28%. The business had revenue of $149.24 million for the quarter, compared to analyst estimates of $152.22 million. During the same period last year, the company earned $0.49 EPS. Caesarstone’s revenue for the quarter was up .2% compared to the same quarter last year.

Several research firms recently issued reports on CSTE. BidaskClub upgraded Caesarstone from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 11th. Credit Suisse Group set a $20.00 price target on Caesarstone and gave the stock a “hold” rating in a research report on Wednesday, May 9th. ValuEngine upgraded Caesarstone from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 8th. Zacks Investment Research lowered Caesarstone from a “hold” rating to a “sell” rating in a research report on Tuesday, May 15th. Finally, Stifel Nicolaus lowered Caesarstone from a “buy” rating to a “hold” rating in a research report on Wednesday, May 9th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.50.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Caesarstone by 17.2% in the 2nd quarter. BlackRock Inc. now owns 1,635,202 shares of the construction company’s stock worth $24,692,000 after buying an additional 240,340 shares during the period. Systematic Financial Management LP lifted its holdings in Caesarstone by 12.4% in the 1st quarter. Systematic Financial Management LP now owns 670,678 shares of the construction company’s stock worth $13,179,000 after buying an additional 74,154 shares during the period. Formula Growth Ltd. lifted its holdings in Caesarstone by 15.6% in the 2nd quarter. Formula Growth Ltd. now owns 644,599 shares of the construction company’s stock worth $9,733,000 after buying an additional 87,025 shares during the period. Global Alpha Capital Management Ltd. lifted its holdings in Caesarstone by 36.2% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 639,813 shares of the construction company’s stock worth $9,661,000 after buying an additional 170,000 shares during the period. Finally, Northern Trust Corp lifted its holdings in Caesarstone by 2.4% in the 1st quarter. Northern Trust Corp now owns 258,745 shares of the construction company’s stock worth $5,085,000 after buying an additional 5,968 shares during the period. Institutional investors and hedge funds own 47.31% of the company’s stock.

CSTE traded down $0.15 on Thursday, hitting $19.20. 107,400 shares of the company were exchanged, compared to its average volume of 322,959. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.11 and a quick ratio of 1.85. Caesarstone has a 12 month low of $12.50 and a 12 month high of $30.45. The firm has a market cap of $650.91 million, a price-to-earnings ratio of 14.44 and a beta of 1.95.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Shareholders of record on Wednesday, August 22nd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Tuesday, August 21st. Caesarstone’s dividend payout ratio (DPR) is currently 36.09%.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.

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