Brokerages expect Casella Waste Systems (NASDAQ:CWST) to post sales of $161.05 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Casella Waste Systems’ earnings, with the highest sales estimate coming in at $162.10 million and the lowest estimate coming in at $160.00 million. Casella Waste Systems reported sales of $154.02 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.6%. The firm is expected to report its next earnings report on Wednesday, August 1st.
On average, analysts expect that Casella Waste Systems will report full year sales of $633.35 million for the current financial year, with estimates ranging from $632.70 million to $634.00 million. For the next financial year, analysts forecast that the company will post sales of $661.90 million per share, with estimates ranging from $656.00 million to $667.80 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Casella Waste Systems.
Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Thursday, May 3rd. The industrial products company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.01. Casella Waste Systems had a negative net margin of 4.16% and a negative return on equity of 53.97%. The business had revenue of $147.50 million during the quarter, compared to analyst estimates of $139.13 million. During the same period in the prior year, the business posted ($0.01) earnings per share. The company’s revenue was up 10.2% on a year-over-year basis.
Several analysts have issued reports on CWST shares. Stifel Nicolaus upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Wednesday, January 24th. Zacks Investment Research lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. TheStreet upgraded shares of Casella Waste Systems from a “d” rating to a “c” rating in a report on Thursday, March 1st. UBS started coverage on shares of Casella Waste Systems in a report on Wednesday, March 14th. They set a “neutral” rating and a $25.00 target price for the company. Finally, BidaskClub lowered shares of Casella Waste Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Casella Waste Systems presently has a consensus rating of “Buy” and an average price target of $25.25.
In other news, Director Gregory B. Peters sold 4,300 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $23.28, for a total transaction of $100,104.00. Following the completion of the sale, the director now directly owns 92,291 shares in the company, valued at $2,148,534.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Edmond Coletta sold 25,000 shares of the stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $23.29, for a total transaction of $582,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,625 shares of company stock valued at $3,215,250. 10.64% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Ramsey Quantitative Systems bought a new position in Casella Waste Systems in the fourth quarter worth about $123,000. SeaCrest Wealth Management LLC bought a new position in Casella Waste Systems in the fourth quarter worth about $138,000. SG Americas Securities LLC bought a new position in Casella Waste Systems in the first quarter worth about $142,000. Aperio Group LLC bought a new position in Casella Waste Systems in the fourth quarter worth about $231,000. Finally, Citigroup Inc. raised its stake in Casella Waste Systems by 417.9% in the first quarter. Citigroup Inc. now owns 10,643 shares of the industrial products company’s stock worth $249,000 after buying an additional 8,588 shares in the last quarter. Institutional investors own 83.59% of the company’s stock.
Casella Waste Systems traded up $0.13, hitting $24.70, during trading on Tuesday, according to MarketBeat Ratings. 163,282 shares of the company’s stock traded hands, compared to its average volume of 243,965. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of -12.75. Casella Waste Systems has a 12-month low of $24.36 and a 12-month high of $25.07. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 36.87 and a beta of 0.92.
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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