$0.27 Earnings Per Share Expected for Caesarstone Ltd (CSTE) This Quarter

Brokerages forecast that Caesarstone Ltd (NASDAQ:CSTE) will report $0.27 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Caesarstone’s earnings. Caesarstone posted earnings per share of $0.37 during the same quarter last year, which would suggest a negative year-over-year growth rate of 27%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Caesarstone will report full year earnings of $1.06 per share for the current fiscal year, with EPS estimates ranging from $1.04 to $1.07. For the next year, analysts expect that the business will report earnings of $1.04 per share, with EPS estimates ranging from $0.78 to $1.30. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Caesarstone.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings results on Wednesday, August 8th. The construction company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $149.24 million for the quarter, compared to analysts’ expectations of $152.22 million. During the same quarter last year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year.

CSTE has been the topic of several recent research reports. BidaskClub raised shares of Caesarstone from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Credit Suisse Group set a $13.00 price target on shares of Caesarstone and gave the company a “sell” rating in a research report on Friday, July 6th. Zacks Investment Research raised shares of Caesarstone from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, ValuEngine raised shares of Caesarstone from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 8th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $21.33.

Large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new stake in Caesarstone in the 1st quarter valued at about $107,000. FMR LLC purchased a new stake in shares of Caesarstone during the 2nd quarter worth approximately $151,000. Stifel Financial Corp increased its stake in shares of Caesarstone by 49.0% during the 1st quarter. Stifel Financial Corp now owns 14,374 shares of the construction company’s stock worth $285,000 after purchasing an additional 4,730 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Caesarstone during the 1st quarter worth approximately $358,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Caesarstone during the 2nd quarter worth approximately $415,000. Hedge funds and other institutional investors own 47.27% of the company’s stock.

NASDAQ CSTE traded down $0.19 during trading hours on Wednesday, hitting $16.99. The company’s stock had a trading volume of 7,049 shares, compared to its average volume of 306,546. Caesarstone has a 52 week low of $12.50 and a 52 week high of $30.35. The stock has a market cap of $637.17 million, a price-to-earnings ratio of 12.72 and a beta of 1.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.85 and a current ratio of 3.11.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Wednesday, August 22nd were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 21st. This represents a $0.48 annualized dividend and a yield of 2.83%. Caesarstone’s dividend payout ratio (DPR) is 45.11%.

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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