KeyCorp Brokers Reduce Earnings Estimates for Clean Harbors, Inc. (NYSE:CLH)
Clean Harbors, Inc. (NYSE:CLH) – Analysts at KeyCorp decreased their Q3 2017 EPS estimates for Clean Harbors in a research note issued on Wednesday. KeyCorp analyst J. Box now expects that the business services provider will post earnings of $0.39 per share for the quarter, down from their previous estimate of $0.54. KeyCorp has a “Overweight” rating and a $65.00 price target on the stock. KeyCorp also issued estimates for Clean Harbors’ FY2017 earnings at $0.62 EPS and Q1 2018 earnings at ($0.09) EPS.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Clean Harbors from a “strong sell” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, May 2nd. Wedbush restated an “outperform” rating and issued a $63.00 price target on shares of Clean Harbors in a report on Tuesday, April 11th. BMO Capital Markets started coverage on shares of Clean Harbors in a report on Thursday, June 29th. They issued an “outperform” rating and a $65.00 price target on the stock. BidaskClub cut shares of Clean Harbors from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, ValuEngine upgraded shares of Clean Harbors from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $61.27.
Shares of Clean Harbors (CLH) opened at 54.17 on Monday. Clean Harbors has a 52 week low of $43.03 and a 52 week high of $61.62. The stock’s 50 day moving average is $55.93 and its 200-day moving average is $56.45. The company’s market cap is $3.10 billion.
Clean Harbors (NYSE:CLH) last announced its earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $752.80 million for the quarter, compared to the consensus estimate of $735.63 million. Clean Harbors had a negative net margin of 0.65% and a positive return on equity of 0.79%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS.
In other Clean Harbors news, EVP Brian P. Weber sold 1,945 shares of the stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $54.06, for a total transaction of $105,146.70. Following the transaction, the executive vice president now directly owns 51,656 shares in the company, valued at approximately $2,792,523.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David M. Parry sold 4,402 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $58.96, for a total transaction of $259,541.92. Following the transaction, the insider now owns 39,955 shares in the company, valued at $2,355,746.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,418 shares of company stock worth $605,895. 9.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Guggenheim Capital LLC raised its stake in Clean Harbors by 2.8% in the fourth quarter. Guggenheim Capital LLC now owns 9,953 shares of the business services provider’s stock valued at $553,000 after buying an additional 268 shares during the last quarter. Daiwa SB Investments Ltd. purchased a new stake in Clean Harbors during the first quarter valued at approximately $440,000. Capstone Asset Management Co. raised its stake in Clean Harbors by 7.2% in the first quarter. Capstone Asset Management Co. now owns 4,749 shares of the business services provider’s stock valued at $264,000 after buying an additional 320 shares during the last quarter. Atria Investments LLC purchased a new stake in Clean Harbors during the first quarter valued at approximately $236,000. Finally, Louisiana State Employees Retirement System raised its stake in Clean Harbors by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 13,200 shares of the business services provider’s stock valued at $734,000 after buying an additional 300 shares during the last quarter. Institutional investors own 95.74% of the company’s stock.
About Clean Harbors
Clean Harbors, Inc is a provider of environmental, energy and industrial services throughout North America. The Company is also a re-refiner and recycler of used oil in the world and a provider of parts cleaning and related environmental services to commercial, industrial and automotive customers in North America.
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