$145.17 Million in Sales Expected for Caesarstone Ltd (CSTE) This Quarter

Equities research analysts predict that Caesarstone Ltd (NASDAQ:CSTE) will report sales of $145.17 million for the current quarter, Zacks reports. Two analysts have provided estimates for Caesarstone’s earnings, with the highest sales estimate coming in at $145.95 million and the lowest estimate coming in at $144.38 million. Caesarstone reported sales of $134.98 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.5%. The firm is expected to announce its next quarterly earnings report on Wednesday, February 14th.

On average, analysts expect that Caesarstone will report full year sales of $145.17 million for the current fiscal year, with estimates ranging from $584.39 million to $620.10 million. For the next year, analysts expect that the company will report sales of $624.53 million per share, with estimates ranging from $615.58 million to $633.47 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Caesarstone.

CSTE has been the subject of several recent research reports. Zacks Investment Research lowered Caesarstone from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 7th. JPMorgan Chase & Co. lowered Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 price objective for the company. in a report on Thursday, November 2nd. Finally, Chardan Capital reissued a “neutral” rating and issued a $32.00 price objective (down previously from $43.00) on shares of Caesarstone in a report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Caesarstone has an average rating of “Hold” and an average price target of $35.00.

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its stake in Caesarstone by 63.5% in the second quarter. SG Americas Securities LLC now owns 4,577 shares of the construction company’s stock worth $160,000 after purchasing an additional 1,778 shares during the period. Sensato Investors LLC bought a new stake in Caesarstone in the second quarter worth $207,000. Principal Financial Group Inc. bought a new stake in Caesarstone in the second quarter worth $225,000. Verition Fund Management LLC bought a new stake in Caesarstone in the second quarter worth $238,000. Finally, Janney Capital Management LLC bought a new stake in Caesarstone in the third quarter worth $213,000. 49.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of Caesarstone (CSTE) traded up $0.90 during trading on Thursday, hitting $23.05. The stock had a trading volume of 252,784 shares, compared to its average volume of 194,195. Caesarstone has a 1 year low of $21.15 and a 1 year high of $44.00. The stock has a market cap of $764.04, a price-to-earnings ratio of 16.95 and a beta of 2.10. The company has a current ratio of 3.31, a quick ratio of 2.20 and a debt-to-equity ratio of 0.02.

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About Caesarstone

Caesarstone Ltd., formerly Caesarstone Sdot-Yam Ltd., is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.

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