$0.16 EPS Expected for Casella Waste Systems Inc. (CWST) This Quarter

Wall Street brokerages expect Casella Waste Systems Inc. (NASDAQ:CWST) to post $0.16 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for Casella Waste Systems’ earnings, with the lowest EPS estimate coming in at $0.14 and the highest estimate coming in at $0.17. Casella Waste Systems posted earnings per share of $0.11 in the same quarter last year, which would indicate a positive year over year growth rate of 45.5%. The business is expected to issue its next earnings results on Thursday, March 7th.

According to Zacks, analysts expect that Casella Waste Systems will report full year earnings of $0.70 per share for the current fiscal year, with EPS estimates ranging from $0.69 to $0.71. For the next financial year, analysts forecast that the business will report earnings of $0.88 per share, with EPS estimates ranging from $0.73 to $1.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Casella Waste Systems.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). Casella Waste Systems had a net margin of 6.30% and a negative return on equity of 74.47%. The company had revenue of $172.83 million for the quarter, compared to the consensus estimate of $172.77 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. Casella Waste Systems’s revenue was up 7.8% compared to the same quarter last year.

Several equities analysts have recently weighed in on the company. ValuEngine upgraded Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. BidaskClub downgraded Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Zacks Investment Research downgraded Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Monday, July 9th. Stifel Nicolaus downgraded Casella Waste Systems from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Monday, August 6th. They noted that the move was a valuation call. Finally, Raymond James lifted their price objective on Casella Waste Systems from $33.00 to $35.00 and gave the stock a “strong-buy” rating in a report on Friday, September 7th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have assigned a strong buy rating to the stock. Casella Waste Systems presently has a consensus rating of “Buy” and an average price target of $31.50.

In related news, COO Edwin D. Johnson sold 20,000 shares of Casella Waste Systems stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $31.20, for a total value of $624,000.00. Following the completion of the sale, the chief operating officer now directly owns 345,317 shares in the company, valued at approximately $10,773,890.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael K. Burke sold 13,845 shares of Casella Waste Systems stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $27.72, for a total value of $383,783.40. Following the completion of the sale, the director now owns 60,422 shares of the company’s stock, valued at $1,674,897.84. The disclosure for this sale can be found here. Insiders sold a total of 66,845 shares of company stock valued at $1,999,113 over the last quarter. 11.47% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Barclays PLC lifted its holdings in Casella Waste Systems by 23.1% in the 1st quarter. Barclays PLC now owns 11,480 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 2,156 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Casella Waste Systems by 4.0% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 91,239 shares of the industrial products company’s stock worth $2,337,000 after purchasing an additional 3,539 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in Casella Waste Systems by 25.7% in the 3rd quarter. Engineers Gate Manager LP now owns 19,843 shares of the industrial products company’s stock worth $616,000 after purchasing an additional 4,062 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Casella Waste Systems in the 2nd quarter worth approximately $118,000. Finally, Acadian Asset Management LLC purchased a new position in Casella Waste Systems in the 3rd quarter worth approximately $152,000. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:CWST opened at $30.10 on Thursday. Casella Waste Systems has a 1-year low of $18.98 and a 1-year high of $34.48. The firm has a market cap of $1.29 billion, a PE ratio of 47.78 and a beta of 0.88.

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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