Analysts Expect Casella Waste Systems, Inc. (CWST) Will Announce Quarterly Sales of $155.77 Million
Equities research analysts expect that Casella Waste Systems, Inc. (NASDAQ:CWST) will post sales of $155.77 million for the current quarter, Zacks reports. Three analysts have provided estimates for Casella Waste Systems’ earnings, with the highest sales estimate coming in at $156.30 million and the lowest estimate coming in at $155.00 million. Casella Waste Systems reported sales of $151.13 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.1%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, November 1st.
On average, analysts expect that Casella Waste Systems will report full year sales of $155.77 million for the current year, with estimates ranging from $582.00 million to $591.60 million. For the next fiscal year, analysts expect that the company will report sales of $601.85 million per share, with estimates ranging from $592.00 million to $609.80 million. Zacks Investment Research’s sales averages 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 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Casella Waste Systems had a negative return on equity of 60.26% and a negative net margin of 10.01%. The business had revenue of $154.02 million during the quarter, compared to analysts’ expectations of $149.88 million. During the same period in the previous year, the firm earned $0.12 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year.
A number of research firms recently weighed in on CWST. Zacks Investment Research upgraded Casella Waste Systems from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a report on Friday, July 7th. Stifel Nicolaus restated a “buy” rating and issued a $16.00 price objective on shares of Casella Waste Systems in a report on Wednesday, July 19th. BidaskClub upgraded Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.83.
In other Casella Waste Systems news, Director William P. Hulligan sold 20,000 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $16.15, for a total transaction of $323,000.00. Following the completion of the sale, the director now directly owns 96,760 shares in the company, valued at approximately $1,562,674. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael K. Burke sold 31,500 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Company insiders own 11.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in Casella Waste Systems by 13.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,644,942 shares of the industrial products company’s stock worth $43,403,000 after acquiring an additional 322,600 shares during the period. Dimensional Fund Advisors LP grew its holdings in Casella Waste Systems by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,016,385 shares of the industrial products company’s stock worth $33,089,000 after acquiring an additional 108,350 shares during the period. Vanguard Group Inc. grew its holdings in Casella Waste Systems by 7.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,667,852 shares of the industrial products company’s stock worth $27,369,000 after acquiring an additional 115,130 shares during the period. Macquarie Group Ltd. grew its holdings in Casella Waste Systems by 140.9% during the 2nd quarter. Macquarie Group Ltd. now owns 1,024,544 shares of the industrial products company’s stock worth $16,813,000 after acquiring an additional 599,264 shares during the period. Finally, State Street Corp grew its holdings in Casella Waste Systems by 7.3% during the 2nd quarter. State Street Corp now owns 707,702 shares of the industrial products company’s stock worth $11,615,000 after acquiring an additional 47,955 shares during the period. Hedge funds and other institutional investors own 77.16% of the company’s stock.
Shares of Casella Waste Systems (NASDAQ CWST) traded down 0.69% during midday trading on Friday, hitting $18.58. The company had a trading volume of 122,725 shares. The stock’s 50-day moving average price is $18.00 and its 200-day moving average price is $16.25. The stock’s market capitalization is $781.03 million. Casella Waste Systems has a one year low of $10.65 and a one year high of $19.13.
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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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