Brokerages Anticipate Casella Waste Systems, Inc. (CWST) Will Announce Quarterly Sales of $155.37 Million
Equities analysts predict that Casella Waste Systems, Inc. (NASDAQ:CWST) will report $155.37 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Casella Waste Systems’ earnings, with estimates ranging from $154.80 million to $156.30 million. Casella Waste Systems reported sales of $151.13 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.8%. The company is expected to issue its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Casella Waste Systems will report full-year sales of $155.37 million for the current year, with estimates ranging from $582.00 million to $592.80 million. For the next financial year, analysts forecast that the company will report sales of $606.78 million per share, with estimates ranging from $599.00 million to $618.50 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Casella Waste Systems.
Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The company had revenue of $154.02 million for the quarter, compared to analysts’ expectations of $149.88 million. Casella Waste Systems had a negative return on equity of 60.26% and a negative net margin of 10.01%. Casella Waste Systems’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS.
Several equities research analysts recently issued reports on CWST shares. Barclays PLC started coverage on Casella Waste Systems in a report on Friday, June 23rd. They issued an “overweight” rating and a $19.00 price objective on the stock. BidaskClub cut Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded Casella Waste Systems from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a report on Friday, July 7th. Finally, Stifel Nicolaus restated a “buy” rating and set a $16.00 target price on shares of Casella Waste Systems in a report on Wednesday, July 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $16.83.
Casella Waste Systems (NASDAQ:CWST) opened at 17.71 on Wednesday. The stock’s market capitalization is $744.46 million. The company’s 50 day moving average price is $16.80 and its 200-day moving average price is $15.37. Casella Waste Systems has a one year low of $8.87 and a one year high of $18.38.
In other Casella Waste Systems news, Director Michael K. Burke sold 31,500 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $17.93, for a total value of $564,795.00. Following the sale, the director now owns 116,514 shares of the company’s stock, valued at $2,089,096.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John W. Casella sold 7,817 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $16.82, for a total value of $131,481.94. Following the completion of the sale, the chief executive officer now directly owns 507,912 shares in the company, valued at approximately $8,543,079.84. The disclosure for this sale can be found here. In the last three months, insiders sold 66,102 shares of company stock worth $1,133,401. 11.50% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of CWST. BNP Paribas Arbitrage SA increased its position in shares of Casella Waste Systems by 206.2% during the second quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 4,922 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Casella Waste Systems during the first quarter worth $144,000. Simplex Trading LLC increased its position in shares of Casella Waste Systems by 596.4% during the second quarter. Simplex Trading LLC now owns 9,931 shares of the industrial products company’s stock worth $162,000 after acquiring an additional 8,505 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Casella Waste Systems during the first quarter worth $163,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of Casella Waste Systems during the first quarter worth $164,000. 77.40% of the stock is currently owned by institutional investors and hedge funds.
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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