Equities research analysts forecast that Casella Waste Systems, Inc. (NASDAQ:CWST) will announce sales of $155.37 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Casella Waste Systems’ earnings, with the highest sales estimate coming in at $156.30 million and the lowest estimate coming in at $154.80 million. Casella Waste Systems posted sales of $151.13 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.8%. The company is expected to announce its next earnings report after the market closes on Wednesday, November 1st.
On average, analysts expect that Casella Waste Systems will report full-year sales of $155.37 million for the current fiscal year, with estimates ranging from $582.00 million to $591.60 million. For the next year, analysts expect that the business will report sales of $604.60 million per share, with estimates ranging from $599.00 million to $609.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Casella Waste Systems.
Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. Casella Waste Systems had a negative net margin of 10.01% and a negative return on equity of 60.26%. The company had revenue of $154.02 million during the quarter, compared to analysts’ expectations of $149.88 million. During the same quarter in the prior year, the company earned $0.12 EPS. Casella Waste Systems’s revenue was up 6.5% compared to the same quarter last year.
A number of brokerages have issued reports on CWST. Stifel Nicolaus cut shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research report on Wednesday, October 4th. Zacks Investment Research cut shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, BidaskClub upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.83.
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Shares of Casella Waste Systems (CWST) opened at 18.17 on Monday. The company’s 50-day moving average is $17.57 and its 200 day moving average is $15.83. The stock’s market cap is $763.79 million. Casella Waste Systems has a 52 week low of $10.31 and a 52 week high of $19.13.
In other news, Director Michael K. Burke sold 31,500 shares of Casella Waste Systems stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $564,795.00. Following the completion of the sale, the director now directly owns 116,514 shares in the company, valued at $2,089,096.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William P. Hulligan sold 20,000 shares of Casella Waste Systems stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $16.15, for a total transaction of $323,000.00. Following the sale, the director now owns 96,760 shares of the company’s stock, valued at $1,562,674. The disclosure for this sale can be found here. Insiders own 11.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. grew its holdings in shares of Casella Waste Systems by 7.1% during the first quarter. American International Group Inc. now owns 23,804 shares of the industrial products company’s stock worth $336,000 after buying an additional 1,570 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Casella Waste Systems during the second quarter worth about $411,000. American Century Companies Inc. purchased a new stake in shares of Casella Waste Systems during the second quarter worth about $1,213,000. Globeflex Capital L P grew its holdings in shares of Casella Waste Systems by 17,910.4% during the first quarter. Globeflex Capital L P now owns 12,067 shares of the industrial products company’s stock worth $170,000 after buying an additional 12,000 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Casella Waste Systems by 690.9% during the first quarter. Sei Investments Co. now owns 54,889 shares of the industrial products company’s stock worth $774,000 after buying an additional 47,949 shares in the last quarter. Institutional investors and hedge funds own 77.40% of the company’s stock.
Casella Waste Systems Company Profile
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.
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