Casella Waste Systems (NASDAQ:CWST) announced its earnings results on Thursday. The industrial products company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02, Bloomberg Earnings reports. The company had revenue of $187.46 million during the quarter, compared to the consensus estimate of $184.08 million. Casella Waste Systems had a net margin of 1.27% and a return on equity of 390.60%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 earnings per share. Casella Waste Systems updated its FY 2019 guidance to EPS.
NASDAQ CWST traded up $2.40 during trading hours on Friday, reaching $45.26. 803,075 shares of the company were exchanged, compared to its average volume of 258,312. Casella Waste Systems has a 1 year low of $24.61 and a 1 year high of $46.85. The firm has a 50 day simple moving average of $41.24. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 6.53. The company has a market cap of $2.03 billion, a PE ratio of 74.20 and a beta of 0.80.
In related news, Director James F. Callahan, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $38.53, for a total transaction of $192,650.00. Following the completion of the sale, the director now owns 65,736 shares in the company, valued at $2,532,808.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edmond Coletta sold 146,017 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $37.30, for a total transaction of $5,446,434.10. Following the sale, the insider now owns 292,035 shares of the company’s stock, valued at approximately $10,892,905.50. The disclosure for this sale can be found here. Insiders have sold 281,757 shares of company stock valued at $10,624,495 in the last 90 days. 9.65% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. purchased a new position in shares of Casella Waste Systems in the fourth quarter worth about $6,555,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Casella Waste Systems by 366.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,360 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 10,497 shares in the last quarter. Oak Ridge Investments LLC purchased a new position in shares of Casella Waste Systems in the first quarter worth about $13,817,000. MetLife Investment Advisors LLC increased its stake in shares of Casella Waste Systems by 16.5% in the first quarter. MetLife Investment Advisors LLC now owns 19,066 shares of the industrial products company’s stock worth $678,000 after purchasing an additional 2,694 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Casella Waste Systems by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 460,255 shares of the industrial products company’s stock worth $13,112,000 after purchasing an additional 41,586 shares in the last quarter. Hedge funds and other institutional investors own 90.27% of the company’s stock.
Several analysts have recently commented on the stock. UBS Group increased their target price on shares of Casella Waste Systems from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. BidaskClub downgraded shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Friday, July 26th. ValuEngine downgraded shares of Casella Waste Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday. Zacks Investment Research downgraded shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Finally, TheStreet upgraded shares of Casella Waste Systems from a “c” rating to a “b-” rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $40.00.
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, Western, 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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