Brokerages Anticipate Casella Waste Systems Inc. (NASDAQ:CWST) to Post $0.35 Earnings Per Share

Analysts expect Casella Waste Systems Inc. (NASDAQ:CWST) to report $0.35 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Casella Waste Systems’ earnings. The highest EPS estimate is $0.38 and the lowest is $0.31. Casella Waste Systems posted earnings per share of $0.30 during the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The firm is expected to announce its next quarterly earnings results on Thursday, November 7th.

On average, analysts expect that Casella Waste Systems will report full year earnings of $0.83 per share for the current financial year, with EPS estimates ranging from $0.82 to $0.84. For the next financial year, analysts expect that the business will post earnings of $0.99 per share, with EPS estimates ranging from $0.95 to $1.03. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that follow Casella Waste Systems.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The business had revenue of $187.46 million during the quarter, compared to the consensus estimate of $184.08 million. Casella Waste Systems had a net margin of 2.69% and a return on equity of 76.51%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share.

CWST has been the subject of several recent research reports. Raymond James boosted their price target on Casella Waste Systems from $43.00 to $52.00 and gave the company a “strong-buy” rating in a research note on Monday, August 5th. ValuEngine cut Casella Waste Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub cut Casella Waste Systems from a “hold” rating to a “sell” rating in a research note on Thursday, September 12th. Finally, Zacks Investment Research cut Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $44.25.

In related news, CEO John W. Casella sold 98,844 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $44.70, for a total value of $4,418,326.80. Following the completion of the transaction, the chief executive officer now directly owns 286,248 shares in the company, valued at $12,795,285.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Doody sold 2,262 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $45.55, for a total value of $103,034.10. Following the completion of the transaction, the director now owns 94,416 shares of the company’s stock, valued at $4,300,648.80. The disclosure for this sale can be found here. Insiders sold 312,256 shares of company stock valued at $14,207,139 over the last three months. 9.65% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CWST. Dorsey Wright & Associates boosted its holdings in Casella Waste Systems by 33.3% in the second quarter. Dorsey Wright & Associates now owns 1,028 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 257 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in Casella Waste Systems during the second quarter worth about $55,000. Quantamental Technologies LLC bought a new position in Casella Waste Systems during the second quarter worth about $126,000. HBK Sorce Advisory LLC boosted its holdings in Casella Waste Systems by 18.7% during the second quarter. HBK Sorce Advisory LLC now owns 24,255 shares of the industrial products company’s stock worth $190,000 after buying an additional 3,817 shares during the last quarter. Finally, NEXT Financial Group Inc bought a new position in Casella Waste Systems during the second quarter worth about $201,000. Institutional investors and hedge funds own 88.85% of the company’s stock.

NASDAQ CWST traded down $0.23 on Wednesday, hitting $41.91. 14,015 shares of the company were exchanged, compared to its average volume of 289,830. The company’s 50 day moving average price is $44.33 and its 200-day moving average price is $39.38. The company has a debt-to-equity ratio of 5.71, a current ratio of 0.88 and a quick ratio of 0.82. The firm has a market capitalization of $1.94 billion, a P/E ratio of 68.39 and a beta of 0.85. Casella Waste Systems has a twelve month low of $24.61 and a twelve month high of $47.72.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the northeastern United States. The company operates through Eastern, Western, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.

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Earnings History and Estimates for Casella Waste Systems (NASDAQ:CWST)

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