Q1 2023 EPS Estimates for Clean Harbors, Inc. Increased by Zacks Research (NYSE:CLH)

Clean Harbors, Inc. (NYSE:CLH – Get Rating) – Equities researchers at Zacks Research upped their Q1 2023 earnings per share estimates for shares of Clean Harbors in a research note issued to investors on Wednesday, March 15th. Zacks Research analyst S. Dey now expects that the business services provider will post earnings of $1.10 per share for the quarter, up from their previous estimate of $0.99. The consensus estimate for Clean Harbors’ current full-year earnings is $6.84 per share. Zacks Research also issued estimates for Clean Harbors’ Q2 2023 earnings at $2.09 EPS, Q3 2023 earnings at $2.13 EPS, Q4 2023 earnings at $1.39 EPS, Q1 2024 earnings at $1.62 EPS, Q2 2024 earnings at $1.96 EPS, Q3 2024 earnings at $1.90 EPS, Q4 2024 earnings at $1.71 EPS, FY2024 earnings at $7.19 EPS and FY2025 earnings at $7.81 EPS.

Clean Harbors (NYSE:CLH – Get Rating) last posted its earnings results on Wednesday, March 1st. The business services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Clean Harbors had a return on equity of 22.03% and a net margin of 7.97%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 EPS.

CLH has been the subject of a number of other research reports. Raymond James increased their target price on shares of Clean Harbors from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a report on Sunday, March 5th. BMO Capital Markets boosted their target price on shares of Clean Harbors from $132.00 to $154.00 and gave the stock an “outperform” rating in a report on Thursday, March 2nd. Needham & Company LLC boosted their price objective on shares of Clean Harbors from $140.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Oppenheimer upped their target price on Clean Harbors from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, March 2nd. Finally, StockNews.com started coverage on shares of Clean Harbors in a research report on Thursday. They set a “strong-buy” rating for the company. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Clean Harbors has a consensus rating of “Buy” and a consensus target price of $145.00.

Clean Harbors Stock Down 1.2 %

Shares of CLH opened at $134.32 on Friday. The stock has a market capitalization of $7.26 billion, a PE ratio of 17.77 and a beta of 1.37. Clean Harbors has a 12 month low of $81.56 and a 12 month high of $140.69. The company has a current ratio of 1.99, a quick ratio of 1.68 and a debt-to-equity ratio of 1.26. The firm’s 50 day moving average is $130.49 and its 200-day moving average is $121.35.

Institutional Investors Weigh In On Clean Harbors

Hedge funds have recently made changes to their positions in the company. Raymond James & Associates increased its stake in Clean Harbors by 146.7% during the 1st quarter. Raymond James & Associates now owns 37,019 shares of the business services provider’s stock valued at $4,133,000 after purchasing an additional 22,012 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Clean Harbors in the first quarter valued at about $1,672,000. HighTower Advisors LLC boosted its position in Clean Harbors by 68.7% in the first quarter. HighTower Advisors LLC now owns 7,080 shares of the business services provider’s stock worth $793,000 after purchasing an additional 2,883 shares during the last quarter. Acadian Asset Management LLC grew its position in Clean Harbors by 122.5% during the first quarter. Acadian Asset Management LLC now owns 4,423 shares of the business services provider’s stock valued at $492,000 after buying an additional 2,435 shares during the period. Finally, MetLife Investment Management LLC raised its position in Clean Harbors by 33.5% in the first quarter. MetLife Investment Management LLC now owns 32,386 shares of the business services provider’s stock worth $3,616,000 after acquiring an additional 8,127 shares during the period. 88.13% of the stock is currently owned by institutional investors.

Insider Activity at Clean Harbors

In other news, COO Eric W. Gerstenberg sold 16,409 shares of the stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $116.02, for a total transaction of $1,903,772.18. Following the transaction, the chief operating officer now directly owns 61,332 shares in the company, valued at approximately $7,115,738.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Eric W. Gerstenberg sold 16,409 shares of Clean Harbors stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $116.02, for a total value of $1,903,772.18. Following the transaction, the chief operating officer now owns 61,332 shares in the company, valued at $7,115,738.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert Speights sold 3,327 shares of the stock in a transaction that occurred on Thursday, December 29th. The shares were sold at an average price of $113.71, for a total value of $378,313.17. Following the sale, the insider now directly owns 36,340 shares of the company’s stock, valued at approximately $4,132,221.40. The disclosure for this sale can be found here. Insiders have sold 32,296 shares of company stock valued at $3,987,096 over the last three months. 6.60% of the stock is owned by corporate insiders.

Clean Harbors Company Profile

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Clean Harbors, Inc engages in the provision of environmental, energy, and industrial services. It operates through the Environmental Services and the Safety-Kleen Sustainability Solutions segments. The Environmental Services segment consists of the technical services, industrial services, field services, and oil, gas, and lodging businesses.