Zacks: Brokerages Expect Clean Harbors, Inc. (CLH) Will Announce Quarterly Sales of $770.16 Million
Wall Street analysts forecast that Clean Harbors, Inc. (NYSE:CLH) will report sales of $770.16 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Clean Harbors’ earnings, with estimates ranging from $762.60 million to $776.79 million. Clean Harbors reported sales of $729.52 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.6%. The company is scheduled to report its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Clean Harbors will report full-year sales of $770.16 million for the current year, with estimates ranging from $2.93 billion to $2.96 billion. For the next year, analysts expect that the company will post sales of $3.10 billion per share, with estimates ranging from $3.05 billion to $3.16 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Clean Harbors.
Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). Clean Harbors had a negative net margin of 0.65% and a positive return on equity of 0.79%. The business had revenue of $752.80 million during the quarter, compared to analysts’ expectations of $735.63 million. During the same quarter last year, the firm earned $0.15 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year.
Several research analysts have weighed in on the company. Barclays PLC raised Clean Harbors from an “underweight” rating to an “equal weight” rating and set a $50.00 target price on the stock in a research report on Monday, August 7th. Canaccord Genuity reaffirmed a “hold” rating and issued a $57.00 target price on shares of Clean Harbors in a research report on Wednesday, August 9th. BidaskClub lowered Clean Harbors from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. ValuEngine raised Clean Harbors from a “sell” rating to a “hold” rating in a research report on Thursday, August 31st. Finally, KeyCorp upped their target price on Clean Harbors from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Clean Harbors has an average rating of “Hold” and a consensus target price of $62.30.
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In other Clean Harbors news, COO Eric W. Gerstenberg sold 4,667 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $50.42, for a total value of $235,310.14. Following the sale, the chief operating officer now owns 91,950 shares of the company’s stock, valued at approximately $4,636,119. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eric J. Dugas sold 933 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $54.67, for a total value of $51,007.11. Following the completion of the sale, the senior vice president now directly owns 14,766 shares in the company, valued at approximately $807,257.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,545 shares of company stock worth $391,464. 9.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio grew its holdings in Clean Harbors by 23.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 26,830 shares of the business services provider’s stock valued at $1,498,000 after buying an additional 5,034 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Clean Harbors by 1.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 76,572 shares of the business services provider’s stock valued at $4,276,000 after buying an additional 1,089 shares during the last quarter. Green Square Capital LLC grew its holdings in Clean Harbors by 8.3% in the 2nd quarter. Green Square Capital LLC now owns 13,692 shares of the business services provider’s stock valued at $764,000 after buying an additional 1,053 shares during the last quarter. State Street Corp grew its holdings in Clean Harbors by 1.6% in the 2nd quarter. State Street Corp now owns 1,373,858 shares of the business services provider’s stock valued at $76,701,000 after buying an additional 21,037 shares during the last quarter. Finally, Colonial Trust Advisors grew its holdings in Clean Harbors by 8.7% in the 2nd quarter. Colonial Trust Advisors now owns 21,200 shares of the business services provider’s stock valued at $1,184,000 after buying an additional 1,692 shares during the last quarter. 94.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Clean Harbors (NYSE:CLH) opened at 54.45 on Friday. The stock’s market cap is $3.11 billion. The stock’s 50 day moving average price is $53.41 and its 200-day moving average price is $56.02. Clean Harbors has a one year low of $43.03 and a one year high of $61.62.
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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