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.
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
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.
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