Equities research analysts expect that Caesarstone Ltd (NASDAQ:CSTE) will report sales of $141.13 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Caesarstone’s earnings, with the lowest sales estimate coming in at $139.76 million and the highest estimate coming in at $142.49 million. Caesarstone reported sales of $148.14 million in the same quarter last year, which would suggest a negative year over year growth rate of 4.7%. The company is expected to report its next quarterly earnings report on Wednesday, February 6th.
On average, analysts expect that Caesarstone will report full-year sales of $574.12 million for the current fiscal year, with estimates ranging from $572.75 million to $575.48 million. For the next year, analysts expect that the business will post sales of $583.59 million, with estimates ranging from $583.14 million to $584.04 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Caesarstone.
Caesarstone (NASDAQ:CSTE) last released its quarterly earnings data on Wednesday, November 7th. The construction company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. Caesarstone had a net margin of 2.93% and a return on equity of 6.40%. The company had revenue of $147.70 million during the quarter, compared to analysts’ expectations of $155.54 million. During the same period in the previous year, the company earned $0.37 EPS. The firm’s quarterly revenue was down 4.5% on a year-over-year basis.
A number of research analysts have issued reports on CSTE shares. ValuEngine upgraded shares of Caesarstone from a “sell” rating to a “hold” rating in a research note on Friday. BidaskClub upgraded shares of Caesarstone from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 11th. Finally, Credit Suisse Group set a $13.00 price target on shares of Caesarstone and gave the company a “sell” rating in a research report on Thursday, November 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $21.33.
Several hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its position in shares of Caesarstone by 7,186.0% during the 3rd quarter. FMR LLC now owns 728,600 shares of the construction company’s stock worth $13,516,000 after buying an additional 718,600 shares during the last quarter. Sphera Funds Management LTD. increased its stake in Caesarstone by 143.2% in the 3rd quarter. Sphera Funds Management LTD. now owns 561,311 shares of the construction company’s stock valued at $10,412,000 after buying an additional 330,495 shares during the period. BlackRock Inc. increased its stake in Caesarstone by 17.2% in the 2nd quarter. BlackRock Inc. now owns 1,635,202 shares of the construction company’s stock valued at $24,692,000 after buying an additional 240,340 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its stake in Caesarstone by 17.6% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 698,256 shares of the construction company’s stock valued at $12,953,000 after buying an additional 104,396 shares during the period. Finally, Formula Growth Ltd. grew its stake in shares of Caesarstone by 15.6% during the 2nd quarter. Formula Growth Ltd. now owns 644,599 shares of the construction company’s stock worth $9,733,000 after purchasing an additional 87,025 shares during the period. Hedge funds and other institutional investors own 45.80% of the company’s stock.
Shares of CSTE opened at $15.02 on Friday. Caesarstone has a fifty-two week low of $12.50 and a fifty-two week high of $26.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.60 and a quick ratio of 2.05. The company has a market capitalization of $512.48 million, a PE ratio of 11.29 and a beta of 1.94.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, November 20th. Caesarstone’s dividend payout ratio is presently 45.11%.
Caesarstone Company Profile
Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.
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