Casella Waste Systems (NASDAQ:CWST) Announces Earnings Results, Beats Estimates By $0.08 EPS

Casella Waste Systems (NASDAQ:CWST) posted its quarterly earnings results on Thursday. The industrial products company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08, FiscalAI reports. Casella Waste Systems had a return on equity of 5.63% and a net margin of 0.85%.The business had revenue of $469.06 million during the quarter, compared to the consensus estimate of $471.32 million.

Casella Waste Systems Price Performance

CWST stock traded down $1.06 during midday trading on Thursday, reaching $101.28. 1,002,665 shares of the stock were exchanged, compared to its average volume of 612,161. Casella Waste Systems has a 52 week low of $82.22 and a 52 week high of $121.24. The company has a fifty day moving average price of $102.22 and a 200 day moving average price of $96.24. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.51 and a quick ratio of 1.43. The stock has a market capitalization of $6.43 billion, a PE ratio of 422.02 and a beta of 0.79.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CWST shares. Zacks Research upgraded shares of Casella Waste Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Casella Waste Systems in a research report on Monday, December 29th. Jefferies Financial Group set a $120.00 target price on Casella Waste Systems and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Raymond James Financial reiterated a “strong-buy” rating and issued a $120.00 price target on shares of Casella Waste Systems in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. assumed coverage on Casella Waste Systems in a report on Thursday, December 11th. They set a “neutral” rating and a $112.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Casella Waste Systems has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

Institutional Trading of Casella Waste Systems

Several hedge funds and other institutional investors have recently made changes to their positions in CWST. Los Angeles Capital Management LLC bought a new position in Casella Waste Systems in the 4th quarter valued at approximately $27,000. Geneos Wealth Management Inc. increased its position in Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 184 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Casella Waste Systems by 235.3% during the second quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 200 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Casella Waste Systems by 75.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 521 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 224 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Casella Waste Systems by 173.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 593 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 376 shares during the period. 99.51% of the stock is currently owned by institutional investors.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.