Wall Street analysts forecast that Casella Waste Systems Inc. (NASDAQ:CWST) will announce sales of $190.83 million for the current quarter, Zacks reports. Three analysts have issued estimates for Casella Waste Systems’ earnings, with the highest sales estimate coming in at $194.00 million and the lowest estimate coming in at $189.00 million. Casella Waste Systems reported sales of $172.83 million in the same quarter last year, which indicates a positive year over year growth rate of 10.4%. The company is expected to issue its next earnings results on Thursday, November 7th.
On average, analysts expect that Casella Waste Systems will report full-year sales of $731.00 million for the current fiscal year, with estimates ranging from $727.00 million to $739.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $793.43 million, with estimates ranging from $761.00 million to $815.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Casella Waste Systems.
Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, August 1st. The industrial products company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $187.46 million during the quarter, compared to the consensus estimate of $184.08 million. Casella Waste Systems had a return on equity of 76.51% and a net margin of 2.69%. Casella Waste Systems’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS.
In other news, CEO John W. Casella sold 98,844 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $44.70, for a total transaction of $4,418,326.80. Following the completion of the transaction, the chief executive officer now directly owns 286,248 shares of the company’s stock, valued at $12,795,285.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Edwin D. Johnson sold 2,700 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $46.53, for a total value of $125,631.00. Following the sale, the chief operating officer now owns 417,245 shares of the company’s stock, valued at approximately $19,414,409.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 312,256 shares of company stock valued at $14,207,139. Corporate insiders own 9.65% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its stake in Casella Waste Systems by 34.5% during the second quarter. Wells Fargo & Company MN now owns 3,515,038 shares of the industrial products company’s stock worth $139,301,000 after purchasing an additional 901,862 shares during the last quarter. Earnest Partners LLC lifted its stake in Casella Waste Systems by 1.5% during the second quarter. Earnest Partners LLC now owns 2,281,869 shares of the industrial products company’s stock worth $90,430,000 after purchasing an additional 33,545 shares during the last quarter. Vanguard Group Inc. lifted its stake in Casella Waste Systems by 5.3% during the second quarter. Vanguard Group Inc. now owns 2,177,365 shares of the industrial products company’s stock worth $86,290,000 after purchasing an additional 109,826 shares during the last quarter. Invesco Ltd. lifted its stake in Casella Waste Systems by 116.2% during the second quarter. Invesco Ltd. now owns 1,674,960 shares of the industrial products company’s stock worth $66,378,000 after purchasing an additional 900,264 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in Casella Waste Systems by 1.7% during the second quarter. Macquarie Group Ltd. now owns 1,508,847 shares of the industrial products company’s stock worth $59,795,000 after purchasing an additional 25,642 shares during the last quarter. Hedge funds and other institutional investors own 88.85% of the company’s stock.
Shares of Casella Waste Systems stock traded down $0.26 on Friday, reaching $42.10. 118,549 shares of the company were exchanged, compared to its average volume of 356,729. Casella Waste Systems has a 1-year low of $24.61 and a 1-year high of $47.72. The company has a market cap of $2.05 billion, a P/E ratio of 69.02 and a beta of 0.78. The company has a debt-to-equity ratio of 5.71, a current ratio of 0.88 and a quick ratio of 0.82. The stock’s 50 day moving average price is $43.53 and its 200-day moving average price is $40.62.
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, Western, 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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