Casella Waste Systems, Inc. (NASDAQ:CWST) Forecasted to Earn Q2 2017 Earnings of $0.23 Per Share
Casella Waste Systems, Inc. (NASDAQ:CWST) – Stock analysts at KeyCorp lifted their Q2 2017 earnings per share estimates for shares of Casella Waste Systems in a research note issued on Sunday. KeyCorp analyst J. Box now forecasts that the industrial products company will earn $0.23 per share for the quarter, up from their prior estimate of $0.22. KeyCorp has a “Overweight” rating and a $17.00 price target on the stock.
Several other research firms have also weighed in on CWST. BidaskClub raised Casella Waste Systems from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $16.00 target price on shares of Casella Waste Systems in a research report on Wednesday, July 19th. Zacks Investment Research downgraded Casella Waste Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Barclays PLC started coverage on Casella Waste Systems in a research report on Friday, June 23rd. They issued an “overweight” rating and a $19.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Casella Waste Systems currently has a consensus rating of “Hold” and a consensus price target of $15.86.
Casella Waste Systems (NASDAQ CWST) opened at 17.00 on Tuesday. Casella Waste Systems has a 12-month low of $8.63 and a 12-month high of $17.73. The company has a market capitalization of $711.96 million, a PE ratio of 1307.69 and a beta of 0.56. The company has a 50 day moving average price of $16.31 and a 200-day moving average price of $13.99.
Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.10. Casella Waste Systems had a negative return on equity of 73.05% and a net margin of 0.09%. The business had revenue of $133.80 million during the quarter, compared to analysts’ expectations of $128.33 million. During the same period in the previous year, the business posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of Casella Waste Systems by 36.6% in the first quarter. Renaissance Technologies LLC now owns 2,322,342 shares of the industrial products company’s stock worth $32,768,000 after buying an additional 622,381 shares during the period. Wellington Management Group LLP bought a new position in shares of Casella Waste Systems during the first quarter worth about $6,461,000. Monarch Partners Asset Management LLC increased its position in shares of Casella Waste Systems by 88.8% in the first quarter. Monarch Partners Asset Management LLC now owns 480,723 shares of the industrial products company’s stock worth $6,783,000 after buying an additional 226,090 shares during the period. Fenimore Asset Management Inc. bought a new position in shares of Casella Waste Systems during the second quarter worth about $3,211,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Casella Waste Systems by 9.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,789,894 shares of the industrial products company’s stock worth $22,213,000 after buying an additional 157,511 shares during the period. Institutional investors own 76.43% of the company’s stock.
In other news, Vice Chairman Douglas R. Casella sold 2,166 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $16.82, for a total transaction of $36,432.12. Following the completion of the transaction, the insider now directly owns 739,613 shares in the company, valued at $12,440,290.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Edwin D. Johnson sold 3,591 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $16.82, for a total value of $60,400.62. Following the transaction, the chief operating officer now owns 269,500 shares of the company’s stock, valued at $4,532,990. The disclosure for this sale can be found here. Insiders sold 16,102 shares of company stock valued at $268,106 over the last quarter. Corporate insiders own 11.50% of the company’s stock.
About Casella Waste Systems
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.
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