Caesarstone (NASDAQ:CSTE) Releases Earnings Results, Misses Expectations By $0.10 EPS

Caesarstone (NASDAQ:CSTE) posted its quarterly earnings results on Wednesday. The construction company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.10), FiscalAI reports. The business had revenue of $94.44 million during the quarter, compared to analyst estimates of $93.70 million. Caesarstone had a negative net margin of 18.44% and a negative return on equity of 19.35%.

Caesarstone Price Performance

CSTE opened at $0.93 on Thursday. The business has a 50 day simple moving average of $1.97 and a 200-day simple moving average of $1.61. The stock has a market capitalization of $32.13 million, a P/E ratio of -0.46 and a beta of -0.03. Caesarstone has a 12 month low of $0.86 and a 12 month high of $3.50.

Institutional Investors Weigh In On Caesarstone

Hedge funds and other institutional investors have recently modified their holdings of the stock. Qube Research & Technologies Ltd acquired a new position in shares of Caesarstone during the 2nd quarter worth $56,000. Jane Street Group LLC acquired a new stake in Caesarstone in the 2nd quarter worth about $263,000. Pitcairn Co. purchased a new stake in Caesarstone in the second quarter valued at approximately $31,000. Citadel Advisors LLC boosted its holdings in shares of Caesarstone by 163.7% in the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after purchasing an additional 39,474 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Caesarstone in the fourth quarter valued at $30,000. 33.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Caesarstone to a “strong sell” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

About Caesarstone

Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company’s core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone’s products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.

Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.