Caesarstone Ltd (CSTE) Expected to Announce Earnings of $0.09 Per Share

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Equities research analysts expect that Caesarstone Ltd (NASDAQ:CSTE) will post earnings per share of $0.09 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Caesarstone’s earnings, with estimates ranging from $0.05 to $0.12. Caesarstone posted earnings of $0.10 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 10%. The company is expected to report its next quarterly earnings results on Wednesday, May 8th.

According to Zacks, analysts expect that Caesarstone will report full-year earnings of $0.93 per share for the current year, with EPS estimates ranging from $0.91 to $0.94. For the next financial year, analysts anticipate that the company will report earnings of $1.10 per share, with EPS estimates ranging from $0.96 to $1.23. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Caesarstone.

Caesarstone (NASDAQ:CSTE) last posted its earnings results on Wednesday, February 6th. The construction company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.10). Caesarstone had a net margin of 4.24% and a return on equity of 5.21%. The firm had revenue of $142.88 million for the quarter, compared to analysts’ expectations of $141.16 million. During the same period last year, the firm earned $0.22 earnings per share. Caesarstone’s revenue for the quarter was down 3.6% compared to the same quarter last year.

Several equities analysts have recently commented on CSTE shares. ValuEngine upgraded shares of Caesarstone from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Zacks Investment Research cut Caesarstone from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 12th. Finally, BidaskClub lowered Caesarstone from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and a consensus target price of $14.50.

NASDAQ CSTE traded up $0.24 during mid-day trading on Monday, reaching $15.96. 66,636 shares of the stock were exchanged, compared to its average volume of 95,679. The company has a market capitalization of $540.19 million, a PE ratio of 22.17 and a beta of 1.70. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.72 and a current ratio of 3.15. Caesarstone has a 1 year low of $12.49 and a 1 year high of $21.80.

Large investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Caesarstone by 2.4% in the third quarter. BlackRock Inc. now owns 1,674,740 shares of the construction company’s stock valued at $31,067,000 after buying an additional 39,538 shares in the last quarter. FMR LLC boosted its stake in Caesarstone by 7,186.0% in the third quarter. FMR LLC now owns 728,600 shares of the construction company’s stock valued at $13,516,000 after acquiring an additional 718,600 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Caesarstone in the third quarter valued at approximately $375,000. Sphera Funds Management LTD. grew its holdings in Caesarstone by 143.2% during the 3rd quarter. Sphera Funds Management LTD. now owns 561,311 shares of the construction company’s stock worth $10,412,000 after acquiring an additional 330,495 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Caesarstone during the 3rd quarter worth $442,000. Hedge funds and other institutional investors own 49.65% of the company’s stock.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.

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