Zacks: Analysts Expect Casella Waste Systems Inc. (CWST) Will Post Earnings of -$0.09 Per Share

Analysts expect that Casella Waste Systems Inc. (NASDAQ:CWST) will announce earnings per share (EPS) of ($0.09) for the current quarter, Zacks reports. Four analysts have provided estimates for Casella Waste Systems’ earnings, with the highest EPS estimate coming in at ($0.05) and the lowest estimate coming in at ($0.11). Casella Waste Systems reported earnings per share of ($0.19) in the same quarter last year, which would indicate a positive year over year growth rate of 52.6%. The company is expected to announce its next quarterly earnings report on Wednesday, May 3rd.

On average, analysts expect that Casella Waste Systems will report full-year earnings of $0.47 per share for the current financial year, with EPS estimates ranging from $0.38 to $0.64. For the next fiscal year, analysts forecast that the firm will report earnings of $0.57 per share, with EPS estimates ranging from $0.48 to $0.65. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Casella Waste Systems.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Wednesday, March 1st. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The business earned $143.80 million during the quarter, compared to analyst estimates of $139.74 million. Casella Waste Systems had a negative return on equity of 8.76% and a negative net margin of 0.34%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) EPS.

A number of research firms have recently issued reports on CWST. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price objective (up from $11.00) on shares of Casella Waste Systems in a research report on Friday, March 3rd. Zacks Investment Research cut Casella Waste Systems from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 9th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Casella Waste Systems currently has an average rating of “Buy” and an average target price of $13.80.

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In other news, CEO John W. Casella sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $12.58, for a total value of $176,120.00. Following the completion of the sale, the chief executive officer now directly owns 529,729 shares of the company’s stock, valued at $6,663,990.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John W. Casella sold 21,447 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $12.80, for a total value of $274,521.60. Following the completion of the sale, the chief executive officer now directly owns 515,729 shares of the company’s stock, valued at $6,601,331.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,024 shares of company stock valued at $1,015,893. Insiders own 11.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its stake in Casella Waste Systems by 28.8% in the third quarter. Acrospire Investment Management LLC now owns 17,810 shares of the industrial products company’s stock valued at $183,000 after buying an additional 3,977 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Casella Waste Systems by 30.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 22,702 shares of the industrial products company’s stock valued at $282,000 after buying an additional 5,281 shares during the last quarter. AQR Capital Management LLC boosted its stake in Casella Waste Systems by 37.9% in the fourth quarter. AQR Capital Management LLC now owns 19,224 shares of the industrial products company’s stock valued at $239,000 after buying an additional 5,281 shares during the last quarter. Bessemer Group Inc. boosted its stake in Casella Waste Systems by 11.9% in the fourth quarter. Bessemer Group Inc. now owns 65,700 shares of the industrial products company’s stock valued at $815,000 after buying an additional 7,000 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Casella Waste Systems during the fourth quarter valued at $156,000. 72.57% of the stock is owned by institutional investors and hedge funds.

Shares of Casella Waste Systems (NASDAQ:CWST) traded up 0.14% during midday trading on Tuesday, hitting $14.37. The stock had a trading volume of 217,643 shares. The firm’s 50-day moving average is $13.48 and its 200 day moving average is $12.26. The company’s market capitalization is $599.60 million. Casella Waste Systems has a one year low of $6.64 and a one year high of $14.56.

Casella Waste Systems Company Profile

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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