Casella Waste Systems, Inc. (NASDAQ:CWST) – Equities researchers at KeyCorp boosted their Q1 2018 earnings per share (EPS) estimates for Casella Waste Systems in a report issued on Thursday. KeyCorp analyst J. Box now forecasts that the industrial products company will post earnings per share of $0.04 for the quarter, up from their previous forecast of $0.02. KeyCorp currently has a “Buy” rating on the stock. KeyCorp also issued estimates for Casella Waste Systems’ Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.28 EPS and FY2019 earnings at $0.89 EPS.
A number of other analysts also recently issued reports on CWST. Zacks Investment Research downgraded Casella Waste Systems from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Stifel Nicolaus downgraded Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a report on Wednesday, October 4th. Finally, BidaskClub raised Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Casella Waste Systems currently has a consensus rating of “Hold” and an average target price of $16.83.
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Casella Waste Systems (NASDAQ CWST) traded up $0.40 during midday trading on Monday, hitting $19.74. The stock had a trading volume of 31,681 shares, compared to its average volume of 338,371. The company has a market cap of $812.96, a P/E ratio of 31.70 and a beta of 0.69. Casella Waste Systems has a 52-week low of $10.71 and a 52-week high of $20.90. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of -7.91.
Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The firm had revenue of $160.27 million for the quarter, compared to the consensus estimate of $154.61 million. Casella Waste Systems had a negative return on equity of 56.99% and a negative net margin of 9.09%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.
Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its holdings in Casella Waste Systems by 206.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock worth $120,000 after buying an additional 4,922 shares during the last quarter. Simplex Trading LLC lifted its holdings in shares of Casella Waste Systems by 596.4% in the 2nd quarter. Simplex Trading LLC now owns 9,931 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 8,505 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Casella Waste Systems in the 2nd quarter valued at about $186,000. Karp Capital Management Corp purchased a new stake in shares of Casella Waste Systems in the 1st quarter valued at about $163,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of Casella Waste Systems in the 1st quarter valued at about $164,000. 77.17% of the stock is owned by institutional investors.
In other Casella Waste Systems news, Director Michael K. Burke sold 31,500 shares of Casella Waste Systems stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $564,795.00. Following the completion of the sale, the director now directly owns 116,514 shares of the company’s stock, valued at approximately $2,089,096.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.50% of the stock is owned by insiders.
About Casella Waste Systems
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.
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