Analysts Expect Casella Waste Systems (CWST) Will Post Earnings of -$0.01 Per Share

Analysts expect that Casella Waste Systems (NASDAQ:CWST) will report earnings per share (EPS) of ($0.01) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Casella Waste Systems’ earnings, with estimates ranging from ($0.04) to $0.02. Casella Waste Systems reported earnings per share of $0.01 in the same quarter last year, which would suggest a negative year over year growth rate of 200%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, May 3rd.

On average, analysts expect that Casella Waste Systems will report full year earnings of $0.72 per share for the current financial year, with EPS estimates ranging from $0.67 to $0.75. For the next fiscal year, analysts anticipate that the business will report earnings of $0.88 per share, with EPS estimates ranging from $0.85 to $0.94. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Casella Waste Systems.

Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Thursday, March 1st. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). The business had revenue of $151.20 million during the quarter, compared to the consensus estimate of $145.30 million. Casella Waste Systems had a negative return on equity of 58.61% and a negative net margin of 3.64%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 earnings per share.

Several analysts recently issued reports on the company. BidaskClub raised Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 10th. ValuEngine raised Casella Waste Systems from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. UBS assumed coverage on Casella Waste Systems in a research note on Wednesday, March 14th. They issued a “neutral” rating and a $25.00 target price on the stock. Zacks Investment Research raised Casella Waste Systems from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Wednesday, February 14th. Finally, TheStreet raised Casella Waste Systems from a “d” rating to a “c” rating in a research note on Thursday, March 1st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $23.60.

In other news, insider Edmond Coletta sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $23.29, for a total value of $582,250.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John W. Casella sold 19,571 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $26.49, for a total value of $518,435.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,625 shares of company stock worth $3,215,250. Insiders own 11.47% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CWST. Standard Life Aberdeen plc bought a new stake in shares of Casella Waste Systems in the 4th quarter worth approximately $51,786,000. Millennium Management LLC boosted its position in shares of Casella Waste Systems by 91.1% in the 4th quarter. Millennium Management LLC now owns 712,154 shares of the industrial products company’s stock worth $16,394,000 after purchasing an additional 339,447 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Casella Waste Systems by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 3,211,600 shares of the industrial products company’s stock worth $73,931,000 after purchasing an additional 333,900 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Casella Waste Systems in the 4th quarter worth approximately $7,653,000. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Casella Waste Systems in the 3rd quarter worth approximately $4,529,000. 81.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CWST traded up $0.31 during trading hours on Thursday, hitting $24.58. The company’s stock had a trading volume of 126,108 shares, compared to its average volume of 244,171. The company has a debt-to-equity ratio of -12.61, a current ratio of 0.95 and a quick ratio of 0.88. The stock has a market capitalization of $1,034.64, a PE ratio of 36.69 and a beta of 0.92. Casella Waste Systems has a 12 month low of $13.32 and a 12 month high of $27.38.

About Casella Waste Systems

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically-integrated solid waste services company in the northeastern United States. The company operates through Eastern Region, Western Region, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.

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Earnings History and Estimates for Casella Waste Systems (NASDAQ:CWST)

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