Caesarstone Ltd (CSTE) Receives $21.33 Average Target Price from Brokerages

Shares of Caesarstone Ltd (NASDAQ:CSTE) have received a consensus rating of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $21.33.

Several equities research analysts recently commented on CSTE shares. Credit Suisse Group reduced their price objective on Caesarstone from $15.00 to $13.00 and set a “sell” rating for the company in a report on Thursday, November 8th. ValuEngine upgraded Caesarstone from a “sell” rating to a “hold” rating in a report on Monday, September 17th. Finally, BidaskClub upgraded Caesarstone from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC bought a new stake in Caesarstone in the 3rd quarter worth about $137,000. FMR LLC bought a new stake in Caesarstone in the 2nd quarter worth about $151,000. Hartford Investment Management Co. bought a new stake in Caesarstone in the 3rd quarter worth about $305,000. DekaBank Deutsche Girozentrale bought a new stake in Caesarstone in the 3rd quarter worth about $375,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Caesarstone in the 2nd quarter worth about $415,000. Institutional investors own 47.23% of the company’s stock.

Shares of NASDAQ:CSTE traded up $0.33 on Thursday, hitting $15.55. 105,273 shares of the company traded hands, compared to its average volume of 233,377. Caesarstone has a 52 week low of $12.50 and a 52 week high of $26.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.60 and a quick ratio of 2.05. The company has a market capitalization of $534.13 million, a PE ratio of 11.69 and a beta of 2.01.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings results on Wednesday, November 7th. The construction company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. Caesarstone had a return on equity of 6.40% and a net margin of 2.93%. The firm had revenue of $147.70 million during the quarter, compared to the consensus estimate of $155.54 million. During the same period last year, the company earned $0.37 earnings per share. The company’s revenue was down 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that Caesarstone will post 0.81 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 21st will be issued a $0.12 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $0.48 annualized dividend and a yield of 3.09%. Caesarstone’s payout ratio is 45.11%.

About Caesarstone

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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