Casella Waste Systems Inc. (NASDAQ:CWST) – Analysts at First Analysis issued their Q2 2018 earnings estimates for shares of Casella Waste Systems in a research report issued to clients and investors on Sunday. First Analysis analyst C. Greendale forecasts that the industrial products company will post earnings of $0.26 per share for the quarter.
Several other research firms also recently weighed in on CWST. Zacks Investment Research upgraded Casella Waste Systems from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Tuesday, December 26th. BidaskClub upgraded Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 29th. Stifel Nicolaus reiterated a “hold” rating and set a $22.00 target price on shares of Casella Waste Systems in a research report on Thursday, January 4th. TheStreet raised Casella Waste Systems from a “d” rating to a “c” rating in a report on Thursday, March 1st. Finally, ValuEngine raised Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $23.25.
Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, March 1st. The industrial products company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). The company had revenue of $151.20 million for the quarter, compared to analysts’ expectations of $145.30 million. Casella Waste Systems had a negative net margin of 3.64% and a negative return on equity of 58.61%. Casella Waste Systems’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share.
Hedge funds have recently modified their holdings of the company. Ramsey Quantitative Systems bought a new stake in shares of Casella Waste Systems in the fourth quarter worth about $123,000. SeaCrest Wealth Management LLC bought a new stake in shares of Casella Waste Systems in the fourth quarter worth about $138,000. Aperio Group LLC bought a new stake in shares of Casella Waste Systems in the fourth quarter worth about $231,000. Stone Ridge Asset Management LLC bought a new stake in shares of Casella Waste Systems in the fourth quarter worth about $263,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Casella Waste Systems in the fourth quarter worth about $298,000. 81.59% of the stock is currently owned by hedge funds and other institutional investors.
In other Casella Waste Systems news, General Counsel David L. Schmitt sold 3,108 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $26.53, for a total transaction of $82,455.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William P. Hulligan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $24.01, for a total value of $480,200.00. Following the sale, the director now directly owns 76,760 shares in the company, valued at $1,843,007.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,084 shares of company stock worth $4,307,486. Insiders own 11.47% of the company’s stock.
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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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