Caesarstone (NASDAQ:CSTE) Announces Earnings Results, Misses Expectations By $0.10 EPS

Caesarstone (NASDAQ:CSTE) posted its earnings results on Wednesday. The construction company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.10), FiscalAI reports. Caesarstone had a negative return on equity of 19.35% and a negative net margin of 18.44%.The firm had revenue of $94.44 million during the quarter, compared to analysts’ expectations of $93.70 million.

Caesarstone Stock Performance

Caesarstone stock traded down $0.34 during mid-day trading on Wednesday, hitting $0.89. 2,289,316 shares of the company traded hands, compared to its average volume of 160,823. Caesarstone has a one year low of $0.86 and a one year high of $3.70. The stock has a market cap of $30.75 million, a price-to-earnings ratio of -0.44 and a beta of -0.03. The stock has a fifty day moving average price of $1.99 and a 200-day moving average price of $1.61.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Caesarstone to a “strong sell” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Caesarstone presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in Caesarstone in the second quarter valued at $263,000. Citadel Advisors LLC boosted its holdings in shares of Caesarstone by 163.7% in the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock worth $101,000 after purchasing an additional 39,474 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Caesarstone during the 2nd quarter valued at about $56,000. Pitcairn Co. purchased a new position in shares of Caesarstone during the 2nd quarter valued at about $31,000. Finally, Virtu Financial LLC bought a new stake in Caesarstone in the 4th quarter worth approximately $30,000. 33.70% of the stock is currently owned by hedge funds and other institutional investors.

About Caesarstone

Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company’s core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone’s products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.

Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.