Analysts Anticipate Caesarstone Ltd (CSTE) to Announce $0.27 EPS

Brokerages expect that Caesarstone Ltd (NASDAQ:CSTE) will report earnings per share (EPS) of $0.27 for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Caesarstone’s earnings. Caesarstone posted earnings per share of $0.37 during the same quarter last year, which would indicate a negative year-over-year growth rate of 27%. The firm is expected to announce its next earnings results on Wednesday, November 7th.

On average, analysts expect that Caesarstone will report full-year earnings of $1.06 per share for the current financial year, with EPS estimates ranging from $1.04 to $1.07. For the next fiscal year, analysts expect that the business will post earnings of $1.04 per share, with EPS estimates ranging from $0.78 to $1.30. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that cover Caesarstone.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings results on Wednesday, August 8th. The construction company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.18. Caesarstone had a net margin of 2.28% and a return on equity of 5.64%. The company had revenue of $149.24 million during the quarter, compared to analyst estimates of $152.22 million. During the same quarter in the previous year, the business earned $0.49 EPS. The firm’s revenue was up .2% on a year-over-year basis.

Several brokerages have recently issued reports on CSTE. ValuEngine lowered shares of Caesarstone from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. BidaskClub raised shares of Caesarstone from a “strong sell” rating to a “sell” rating in a report on Saturday, August 11th. Zacks Investment Research raised shares of Caesarstone from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Credit Suisse Group set a $20.00 price target on shares of Caesarstone and gave the company a “hold” rating in a report on Wednesday, May 9th. Finally, Stifel Nicolaus lowered shares of Caesarstone from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.50.

Shares of CSTE stock opened at $17.00 on Monday. Caesarstone has a 12-month low of $12.50 and a 12-month high of $30.45. The firm has a market capitalization of $633.73 million, a PE ratio of 12.78 and a beta of 1.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.11 and a quick ratio of 1.85.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Investors of record on Wednesday, August 22nd will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, August 21st. This represents a $0.48 annualized dividend and a yield of 2.82%. Caesarstone’s dividend payout ratio is currently 45.11%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new stake in Caesarstone in the 1st quarter valued at $107,000. FMR LLC bought a new stake in Caesarstone in the 2nd quarter valued at $151,000. First Mercantile Trust Co. lifted its position in Caesarstone by 93.1% in the 1st quarter. First Mercantile Trust Co. now owns 8,951 shares of the construction company’s stock valued at $176,000 after acquiring an additional 4,316 shares in the last quarter. Guggenheim Capital LLC bought a new stake in Caesarstone in the 4th quarter valued at $239,000. Finally, Sphera Funds Management LTD. bought a new stake in Caesarstone in the 1st quarter valued at $240,000. 50.38% of the stock is currently owned by institutional investors and hedge funds.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.

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