Casella Waste Systems, Inc. (CWST) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Casella Waste Systems, Inc. (NASDAQ:CWST) posted its quarterly earnings results on Wednesday. The industrial products company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04, Bloomberg Earnings reports. Casella Waste Systems had a negative return on equity of 60.26% and a negative net margin of 10.01%. The firm had revenue of $160.27 million during the quarter, compared to analysts’ expectations of $154.61 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis.
In other Casella Waste Systems news, Director Michael K. Burke sold 31,500 shares of Casella Waste Systems stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $564,795.00. Following the completion of the transaction, the director now owns 116,514 shares in the company, valued at approximately $2,089,096.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William P. Hulligan sold 20,000 shares of Casella Waste Systems stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $16.15, for a total value of $323,000.00. Following the transaction, the director now owns 96,760 shares of the company’s stock, valued at approximately $1,562,674. The disclosure for this sale can be found here. Company insiders own 11.50% of the company’s stock.
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Several research firms have recently weighed in on CWST. KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a research note on Friday, October 13th. Zacks Investment Research cut Casella Waste Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Stifel Nicolaus reiterated a “buy” rating and set a $16.00 price objective on shares of Casella Waste Systems in a research report on Wednesday, July 19th. Finally, BidaskClub cut Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $16.83.
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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