Casella Waste Systems (NASDAQ:CWST) Releases Earnings Results, Beats Expectations By $0.02 EPS

Casella Waste Systems (NASDAQ:CWST) posted its earnings results on Thursday. The industrial products company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02, Briefing.com reports. The firm had revenue of $341.00 million for the quarter, compared to analysts’ expectations of $340.70 million. Casella Waste Systems had a return on equity of 5.81% and a net margin of 2.01%. The company’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. Casella Waste Systems updated its FY 2024 guidance to EPS.

Casella Waste Systems Trading Down 1.9 %

Shares of CWST stock traded down $1.79 during trading on Friday, hitting $92.53. 268,314 shares of the stock traded hands, compared to its average volume of 286,543. The firm has a market capitalization of $5.37 billion, a P/E ratio of 205.76, a price-to-earnings-growth ratio of 6.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.53 and a quick ratio of 1.46. The firm’s fifty day moving average price is $94.40 and its 200-day moving average price is $86.70. Casella Waste Systems has a 52-week low of $72.97 and a 52-week high of $100.29.

Insider Activity

In other Casella Waste Systems news, CEO John W. Casella sold 1,673 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $94.13, for a total value of $157,479.49. Following the sale, the chief executive officer now owns 35,189 shares of the company’s stock, valued at $3,312,340.57. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, President Edmond Coletta sold 8,271 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.30, for a total transaction of $746,871.30. Following the sale, the president now owns 168,556 shares of the company’s stock, valued at $15,220,606.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John W. Casella sold 1,673 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $94.13, for a total value of $157,479.49. Following the sale, the chief executive officer now directly owns 35,189 shares in the company, valued at approximately $3,312,340.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,238 shares of company stock valued at $1,026,395. 4.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Casella Waste Systems from a “sell” rating to a “hold” rating in a research note on Friday, February 16th. Wells Fargo & Company raised their target price on shares of Casella Waste Systems from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $99.71.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.