Casella Waste Systems Inc. (NASDAQ:CWST) Expected to Announce Earnings of $0.21 Per Share

Brokerages expect Casella Waste Systems Inc. (NASDAQ:CWST) to post earnings per share of $0.21 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Casella Waste Systems’ earnings, with the highest EPS estimate coming in at $0.23 and the lowest estimate coming in at $0.17. Casella Waste Systems reported earnings of $0.09 per share during the same quarter last year, which suggests a positive year over year growth rate of 133.3%. The firm is expected to announce its next earnings results on Thursday, February 20th.

According to Zacks, analysts expect that Casella Waste Systems will report full-year earnings of $0.85 per share for the current year, with EPS estimates ranging from $0.82 to $0.87. For the next fiscal year, analysts anticipate that the company will report earnings of $1.01 per share, with EPS estimates ranging from $0.93 to $1.11. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover Casella Waste Systems.

Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Thursday, October 31st. The industrial products company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $198.55 million for the quarter, compared to analysts’ expectations of $192.60 million. Casella Waste Systems had a return on equity of 50.45% and a net margin of 1.23%. Casella Waste Systems’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS.

A number of equities research analysts have commented on the company. TheStreet cut Casella Waste Systems from a “b-” rating to a “c” rating in a report on Friday, November 1st. Zacks Investment Research upgraded Casella Waste Systems from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Jefferies Financial Group began coverage on Casella Waste Systems in a report on Wednesday, November 27th. They set a “buy” rating and a $52.00 target price on the stock. BidaskClub lowered Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Finally, ValuEngine lowered Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $47.00.

NASDAQ:CWST traded down $1.02 during trading hours on Friday, reaching $49.55. 301,003 shares of the company traded hands, compared to its average volume of 250,831. The firm’s 50-day moving average is $46.83 and its 200-day moving average is $44.13. The stock has a market cap of $2.37 billion, a P/E ratio of 81.23 and a beta of 0.78. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.90 and a quick ratio of 0.84. Casella Waste Systems has a 1-year low of $29.42 and a 1-year high of $51.06.

In other Casella Waste Systems news, Director Emily Nagle Green sold 2,500 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $46.11, for a total transaction of $115,275.00. Following the transaction, the director now owns 30,988 shares of the company’s stock, valued at approximately $1,428,856.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James F. Callahan, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.01, for a total value of $420,100.00. Following the transaction, the director now directly owns 48,283 shares in the company, valued at approximately $2,028,368.83. The disclosure for this sale can be found here. Corporate insiders own 9.65% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Evoke Wealth LLC purchased a new position in shares of Casella Waste Systems in the 3rd quarter worth $33,000. Gradient Investments LLC purchased a new position in shares of Casella Waste Systems in the 3rd quarter worth $36,000. Flagship Harbor Advisors LLC raised its position in shares of Casella Waste Systems by 43.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,378 shares of the industrial products company’s stock worth $59,000 after buying an additional 419 shares during the period. NumerixS Investment Technologies Inc purchased a new position in shares of Casella Waste Systems in the 2nd quarter worth $55,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Casella Waste Systems in the 3rd quarter worth $92,000. 91.56% of the stock is currently owned by institutional investors and hedge funds.

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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