Casella Waste Systems (NASDAQ:CWST) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Casella Waste Systems (NASDAQ:CWST) issued its quarterly earnings results on Monday. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07), FiscalAI reports. Casella Waste Systems had a return on equity of 5.32% and a net margin of 0.29%. The business had revenue of $559.23 million for the quarter, compared to the consensus estimate of $563.17 million.

Casella Waste Systems Stock Up 0.8%

NASDAQ CWST traded up $0.81 during midday trading on Monday, hitting $99.02. 756,502 shares of the company traded hands, compared to its average volume of 705,647. Casella Waste Systems has a 52 week low of $74.05 and a 52 week high of $107.96. The company’s 50-day simple moving average is $89.24 and its 200-day simple moving average is $90.10. The company has a market cap of $6.30 billion, a PE ratio of 1,100.34 and a beta of 0.71. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.99 and a quick ratio of 0.99.

Insider Buying and Selling at Casella Waste Systems

In related news, Director Douglas R. Casella sold 15,157 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $91.05, for a total transaction of $1,380,044.85. Following the sale, the director owned 91,484 shares of the company’s stock, valued at $8,329,618.20. This trade represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael K. Burke sold 1,100 shares of Casella Waste Systems stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $95.26, for a total value of $104,786.00. Following the completion of the transaction, the director owned 13,641 shares in the company, valued at $1,299,441.66. This trade represents a 7.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 18,700 shares of company stock valued at $1,709,494. Corporate insiders own 3.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group lowered Casella Waste Systems from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $122.00 to $95.00 in a research note on Wednesday, October 21st. Weiss Ratings lowered shares of Casella Waste Systems from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 30th. Barclays upped their price target on shares of Casella Waste Systems from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. JPMorgan Chase & Co. lifted their price objective on shares of Casella Waste Systems from $91.00 to $99.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $106.00 price objective on shares of Casella Waste Systems in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.80.

Casella Waste Systems Company Profile

Casella Waste Systems is a regional solid waste services company that provides collection, transfer, disposal, recycling and resource management services. Its customers include residential, commercial, municipal and industrial clients.

The company operates primarily in the northeastern United States, with services across states including Vermont, New Hampshire, New York, Maine, Massachusetts, Connecticut and Pennsylvania. Its operations also include recycling and organics services designed to recover materials and manage waste.

Founded in 1975 by brothers John and Douglas Casella, the company is headquartered in Rutland, Vermont.