$148.87 Million in Sales Expected for Casella Waste Systems, Inc. (NASDAQ:CWST) This Quarter
Equities analysts expect Casella Waste Systems, Inc. (NASDAQ:CWST) to announce sales of $148.87 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Casella Waste Systems’ earnings, with the lowest sales estimate coming in at $147.00 million and the highest estimate coming in at $149.90 million. Casella Waste Systems reported sales of $144.67 million in the same quarter last year, which indicates a positive year-over-year growth rate of 2.9%. The business is scheduled to announce its next earnings report after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that Casella Waste Systems will report full-year sales of $148.87 million for the current year, with estimates ranging from $582.00 million to $588.20 million. For the next year, analysts expect that the business will report sales of $602.93 million per share, with estimates ranging from $599.00 million to $608.90 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Casella Waste Systems.
Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.10. The company had revenue of $133.80 million for the quarter, compared to analyst estimates of $128.33 million. Casella Waste Systems had a net margin of 0.09% and a negative return on equity of 73.05%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted ($0.19) EPS.
Several equities analysts have commented on CWST shares. BidaskClub downgraded shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. KeyCorp upped their price objective on shares of Casella Waste Systems from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, May 11th. Barclays PLC started coverage on shares of Casella Waste Systems in a report on Friday, June 23rd. They issued an “overweight” rating and a $19.00 price objective on the stock. Zacks Investment Research downgraded shares of Casella Waste Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $16.00 price objective on shares of Casella Waste Systems in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Casella Waste Systems currently has an average rating of “Hold” and a consensus price target of $15.86.
In related news, Vice Chairman Douglas R. Casella sold 2,166 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $16.82, for a total value of $36,432.12. Following the transaction, the insider now directly owns 739,613 shares in the company, valued at $12,440,290.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John W. Casella sold 7,817 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $16.82, for a total transaction of $131,481.94. Following the completion of the transaction, the chief executive officer now owns 507,912 shares in the company, valued at $8,543,079.84. The disclosure for this sale can be found here. Insiders sold 16,102 shares of company stock worth $268,106 over the last 90 days. 11.50% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in Casella Waste Systems by 197.6% in the first quarter. Bank of Montreal Can now owns 20,864 shares of the industrial products company’s stock valued at $294,000 after buying an additional 13,853 shares during the period. State Street Corp increased its position in Casella Waste Systems by 7.3% in the fourth quarter. State Street Corp now owns 644,761 shares of the industrial products company’s stock valued at $8,000,000 after buying an additional 43,839 shares during the period. TFS Capital LLC increased its position in Casella Waste Systems by 134.9% in the first quarter. TFS Capital LLC now owns 25,944 shares of the industrial products company’s stock valued at $366,000 after buying an additional 14,898 shares during the period. Globeflex Capital L P increased its position in Casella Waste Systems by 17,910.4% in the first quarter. Globeflex Capital L P now owns 12,067 shares of the industrial products company’s stock valued at $170,000 after buying an additional 12,000 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Casella Waste Systems by 21.6% in the first quarter. Russell Investments Group Ltd. now owns 311,743 shares of the industrial products company’s stock valued at $4,399,000 after buying an additional 55,336 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.
Casella Waste Systems (NASDAQ:CWST) traded down 0.88% during mid-day trading on Thursday, reaching $16.88. 66,366 shares of the company’s stock traded hands. The firm has a market cap of $706.93 million, a PE ratio of 1298.46 and a beta of 0.56. Casella Waste Systems has a 1-year low of $8.63 and a 1-year high of $17.73. The firm has a 50 day moving average of $16.44 and a 200 day moving average of $14.04.
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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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