Caesarstone (NASDAQ:CSTE – Get Free Report) released its earnings results on Wednesday. The construction company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11), Zacks reports. The company had revenue of $102.11 million for the quarter, compared to the consensus estimate of $97.60 million. Caesarstone had a negative net margin of 14.77% and a negative return on equity of 16.14%.
Caesarstone Stock Performance
CSTE traded down $0.01 during midday trading on Friday, hitting $0.98. The stock had a trading volume of 46,036 shares, compared to its average volume of 101,372. The business has a fifty day moving average of $1.36 and a 200 day moving average of $1.69. Caesarstone has a 1 year low of $0.94 and a 1 year high of $5.04. The company has a market cap of $33.86 million, a P/E ratio of -0.60 and a beta of 0.20.
Institutional Trading of Caesarstone
Several hedge funds and other institutional investors have recently made changes to their positions in CSTE. Pitcairn Co. bought a new position in shares of Caesarstone during the 2nd quarter valued at approximately $31,000. Qube Research & Technologies Ltd bought a new stake in Caesarstone in the second quarter worth $56,000. Finally, Jane Street Group LLC purchased a new position in Caesarstone during the second quarter worth $263,000. Hedge funds and other institutional investors own 33.70% of the company’s stock.
Wall Street Analysts Forecast Growth
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Caesarstone Company Profile
Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.
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