Casella Waste Systems (CWST) to Release Quarterly Earnings on Thursday

Casella Waste Systems (NASDAQ:CWST) is set to issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.07 per share for the quarter. Casella Waste Systems has set its FY 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Friday, February 16th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). The business had revenue of $359.57 million during the quarter, compared to analyst estimates of $360.08 million. Casella Waste Systems had a return on equity of 5.81% and a net margin of 2.01%. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 EPS. On average, analysts expect Casella Waste Systems to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Casella Waste Systems Stock Performance

CWST opened at $92.45 on Thursday. The business has a fifty day simple moving average of $93.87 and a 200-day simple moving average of $86.00. The firm has a market cap of $5.36 billion, a PE ratio of 205.44, a P/E/G ratio of 6.20 and a beta of 0.90. The company has a quick ratio of 1.46, a current ratio of 1.53 and a debt-to-equity ratio of 0.99. Casella Waste Systems has a fifty-two week low of $72.97 and a fifty-two week high of $100.29.

Wall Street Analyst Weigh In

Several analysts have issued reports on CWST shares. Wells Fargo & Company boosted their price objective on Casella Waste Systems from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. StockNews.com raised shares of Casella Waste Systems from a “sell” rating to a “hold” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $99.71.

Insider Buying and Selling

In other Casella Waste Systems news, CEO John W. Casella sold 1,673 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $94.13, for a total value of $157,479.49. Following the transaction, the chief executive officer now owns 35,189 shares in the company, valued at approximately $3,312,340.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Casella Waste Systems news, President Edmond Coletta sold 8,271 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $90.30, for a total value of $746,871.30. Following the transaction, the president now directly owns 168,556 shares of the company’s stock, valued at approximately $15,220,606.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John W. Casella sold 1,673 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $94.13, for a total value of $157,479.49. Following the sale, the chief executive officer now directly owns 35,189 shares of the company’s stock, valued at $3,312,340.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,238 shares of company stock worth $1,026,395. 5.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Casella Waste Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in shares of Casella Waste Systems by 7.2% during the 1st quarter. Bank of New York Mellon Corp now owns 238,043 shares of the industrial products company’s stock worth $20,865,000 after purchasing an additional 16,077 shares during the last quarter. Private Advisor Group LLC bought a new stake in Casella Waste Systems during the first quarter worth approximately $244,000. MetLife Investment Management LLC grew its holdings in Casella Waste Systems by 54.9% during the first quarter. MetLife Investment Management LLC now owns 25,964 shares of the industrial products company’s stock valued at $2,276,000 after purchasing an additional 9,202 shares during the last quarter. Synovus Financial Corp raised its position in shares of Casella Waste Systems by 4.3% in the first quarter. Synovus Financial Corp now owns 11,014 shares of the industrial products company’s stock valued at $962,000 after purchasing an additional 456 shares during the period. Finally, Blair William & Co. IL acquired a new stake in shares of Casella Waste Systems in the first quarter worth $453,000. Institutional investors own 99.51% of the company’s stock.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.