Equities analysts expect that Casella Waste Systems Inc. (NASDAQ:CWST) will announce sales of $170.25 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Casella Waste Systems’ earnings. The lowest sales estimate is $166.00 million and the highest is $174.50 million. Casella Waste Systems posted sales of $151.22 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.6%. The firm is expected to issue its next quarterly earnings results after the market closes on Thursday, February 21st.
According to Zacks, analysts expect that Casella Waste Systems will report full year sales of $653.47 million for the current fiscal year, with estimates ranging from $648.00 million to $660.40 million. For the next fiscal year, analysts anticipate that the company will report sales of $718.33 million, with estimates ranging from $713.00 million to $726.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Casella Waste Systems.
CWST has been the subject of a number of analyst reports. BidaskClub upgraded shares of Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 1st. Zacks Investment Research downgraded shares of Casella Waste Systems from a “hold” rating to a “sell” rating in a report on Monday, January 21st. KeyCorp began coverage on shares of Casella Waste Systems in a research report on Monday, February 4th. They issued a “sector weight” rating for the company. ValuEngine lowered shares of Casella Waste Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 11th. Finally, Stifel Nicolaus raised shares of Casella Waste Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $30.00 to $32.00 in a report on Thursday, December 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $32.00.
In related news, Director William P. Hulligan sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $29.94, for a total transaction of $299,400.00. Following the sale, the director now owns 59,484 shares of the company’s stock, valued at $1,780,950.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory B. Peters sold 4,000 shares of the firm’s stock in a transaction on Friday, December 14th. The shares were sold at an average price of $30.59, for a total value of $122,360.00. Following the sale, the director now directly owns 88,015 shares in the company, valued at approximately $2,692,378.85. The disclosure for this sale can be found here. 10.64% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new position in Casella Waste Systems in the second quarter worth $118,000. Northern Trust Corp increased its holdings in shares of Casella Waste Systems by 3.8% in the 2nd quarter. Northern Trust Corp now owns 461,257 shares of the industrial products company’s stock worth $11,812,000 after buying an additional 16,682 shares during the last quarter. United Services Automobile Association purchased a new stake in Casella Waste Systems in the 2nd quarter valued at about $2,375,000. Cookson Peirce & Co. Inc. purchased a new stake in shares of Casella Waste Systems in the 3rd quarter worth approximately $243,000. Finally, First Trust Advisors LP raised its stake in shares of Casella Waste Systems by 14.8% during the 3rd quarter. First Trust Advisors LP now owns 152,646 shares of the industrial products company’s stock worth $4,741,000 after acquiring an additional 19,713 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.
CWST stock traded up $0.51 during mid-day trading on Monday, reaching $31.56. 315,458 shares of the company traded hands, compared to its average volume of 291,654. Casella Waste Systems has a fifty-two week low of $22.15 and a fifty-two week high of $34.48. The company has a market capitalization of $1.35 billion, a P/E ratio of 47.10 and a beta of 0.90.
About Casella Waste Systems
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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