Casella Waste Systems, Inc. (NASDAQ:CWST) to Post Q3 2017 Earnings of $0.24 Per Share, KeyCorp Forecasts
Casella Waste Systems, Inc. (NASDAQ:CWST) – Stock analysts at KeyCorp cut their Q3 2017 EPS estimates for shares of Casella Waste Systems in a report released on Wednesday. KeyCorp analyst J. Box now anticipates that the industrial products company will post earnings of $0.24 per share for the quarter, down from their previous estimate of $0.25. KeyCorp currently has a “Overweight” rating and a $17.00 target price on the stock. KeyCorp also issued estimates for Casella Waste Systems’ FY2019 earnings at $0.83 EPS.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Casella Waste Systems from a “sell” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus reiterated a “buy” rating and set a $16.00 target price on shares of Casella Waste Systems in a research note on Wednesday, July 19th. Finally, BidaskClub cut Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $17.00.
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Casella Waste Systems (CWST) opened at 16.06 on Monday. The stock has a 50 day moving average of $16.60 and a 200 day moving average of $14.17. The company’s market capitalization is $671.48 million. Casella Waste Systems has a 12 month low of $8.75 and a 12 month high of $17.73.
Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company had revenue of $154.02 million for the quarter, compared to analyst estimates of $149.88 million. Casella Waste Systems had a negative net margin of 10.01% and a negative return on equity of 60.26%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share.
In related news, COO Edwin D. Johnson sold 3,591 shares of the business’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 sale, the chief operating officer now directly owns 269,500 shares in the company, valued at approximately $4,532,990. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Douglas R. Casella sold 2,166 shares of the business’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 completion of the sale, the insider now owns 739,613 shares in the company, valued at $12,440,290.66. The disclosure for this sale can be found here. Insiders sold a total of 16,102 shares of company stock worth $268,106 over the last 90 days. 11.50% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in CWST. BNP Paribas Arbitrage SA boosted its stake in shares of Casella Waste Systems by 206.2% in the second quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock worth $120,000 after buying an additional 4,922 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Casella Waste Systems during the first quarter worth about $144,000. Teza Capital Management LLC purchased a new stake in shares of Casella Waste Systems during the first quarter worth about $157,000. Simplex Trading LLC boosted its stake in shares of Casella Waste Systems by 596.4% in the second quarter. Simplex Trading LLC now owns 9,931 shares of the industrial products company’s stock worth $162,000 after buying an additional 8,505 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Casella Waste Systems during the first quarter worth about $163,000. Institutional investors and hedge funds own 75.46% of the company’s stock.
Casella Waste Systems Company Profile
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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