Casella Waste Systems (NASDAQ:CWST – Get Free Report) released its quarterly earnings data on Thursday. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04, FiscalAI reports. Casella Waste Systems had a return on equity of 5.33% and a net margin of 0.29%.The firm had revenue of $543.75 million for the quarter, compared to analyst estimates of $526.43 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year.
Casella Waste Systems Stock Performance
Shares of NASDAQ:CWST opened at $89.41 on Friday. Casella Waste Systems has a 12-month low of $74.05 and a 12-month high of $107.96. The company’s 50 day moving average price is $91.19 and its two-hundred day moving average price is $90.52. The firm has a market cap of $5.69 billion, a PE ratio of 993.55 and a beta of 0.74. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.72.
Insider Buying and Selling
In related news, Director Michael K. Burke sold 2,305 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total transaction of $201,825.80. Following the sale, the director owned 14,048 shares of the company’s stock, valued at $1,230,042.88. This represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Edmond Coletta sold 12,500 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total value of $1,119,500.00. Following the transaction, the chief executive officer owned 140,118 shares in the company, valued at approximately $12,548,968.08. This trade represents a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.78% of the stock is currently owned by insiders.
Institutional Trading of Casella Waste Systems
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on CWST shares. UBS Group decreased their target price on Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating on the stock in a report on Friday, June 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Casella Waste Systems in a report on Friday, May 22nd. Barclays raised Casella Waste Systems from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $101.00 to $102.00 in a report on Monday, May 4th. Zacks Research raised shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 8th. Finally, TD Cowen reiterated a “buy” rating on shares of Casella Waste Systems in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.12.
Read Our Latest Stock Report on Casella Waste Systems
Casella Waste Systems Company Profile
Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.
Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.
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