Analysts predict that Casella Waste Systems Inc. (NASDAQ:CWST) will announce $0.14 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Casella Waste Systems’ earnings, with estimates ranging from $0.13 to $0.16. Casella Waste Systems posted earnings per share of $0.11 in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.3%. The firm is expected to announce its next earnings report on Thursday, March 7th.
On average, analysts expect that Casella Waste Systems will report full year earnings of $0.70 per share for the current fiscal year, with EPS estimates ranging from $0.69 to $0.71. For the next financial year, analysts forecast that the business will report earnings of $0.88 per share, with EPS estimates ranging from $0.73 to $1.00. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Casella Waste Systems.
Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The business had revenue of $172.83 million for the quarter, compared to the consensus estimate of $172.77 million. Casella Waste Systems had a net margin of 6.30% and a negative return on equity of 74.47%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share.
A number of research firms have recently weighed in on CWST. BidaskClub raised Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 1st. Zacks Investment Research raised Casella Waste Systems from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Tuesday, September 18th. ValuEngine raised Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. Raymond James increased their price objective on Casella Waste Systems from $33.00 to $35.00 and gave the company a “strong-buy” rating in a research note on Friday, September 7th. Finally, Stifel Nicolaus lowered Casella Waste Systems from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research note on Monday, August 6th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the stock. Casella Waste Systems currently has an average rating of “Buy” and an average price target of $31.50.
NASDAQ:CWST opened at $29.36 on Thursday. The company has a market cap of $1.29 billion, a PE ratio of 43.82 and a beta of 0.88. Casella Waste Systems has a fifty-two week low of $18.98 and a fifty-two week high of $34.48.
In related news, Director Michael K. Burke sold 13,845 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $27.72, for a total value of $383,783.40. Following the completion of the sale, the director now owns 60,422 shares of the company’s stock, valued at $1,674,897.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Edwin D. Johnson sold 20,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $31.20, for a total value of $624,000.00. Following the completion of the sale, the chief operating officer now directly owns 345,317 shares of the company’s stock, valued at approximately $10,773,890.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,845 shares of company stock valued at $1,710,613. Insiders own 10.64% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CWST. Earnest Partners LLC lifted its stake in Casella Waste Systems by 146.3% in the second quarter. Earnest Partners LLC now owns 1,837,877 shares of the industrial products company’s stock worth $47,068,000 after acquiring an additional 1,091,762 shares during the period. Wells Fargo & Company MN lifted its position in Casella Waste Systems by 63.3% during the second quarter. Wells Fargo & Company MN now owns 1,355,205 shares of the industrial products company’s stock valued at $34,708,000 after buying an additional 525,320 shares during the period. Granahan Investment Management Inc. MA purchased a new position in Casella Waste Systems during the second quarter valued at $5,187,000. Macquarie Group Ltd. lifted its position in Casella Waste Systems by 11.2% during the second quarter. Macquarie Group Ltd. now owns 1,800,433 shares of the industrial products company’s stock valued at $46,109,000 after buying an additional 180,914 shares during the period. Finally, Federated Investors Inc. PA lifted its position in Casella Waste Systems by 14,143.7% during the second quarter. Federated Investors Inc. PA now owns 169,500 shares of the industrial products company’s stock valued at $4,341,000 after buying an additional 168,310 shares during the period. 83.96% 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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