$141.13 Million in Sales Expected for Caesarstone Ltd (CSTE) This Quarter

Brokerages forecast that Caesarstone Ltd (NASDAQ:CSTE) will report $141.13 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Caesarstone’s earnings. The lowest sales estimate is $139.76 million and the highest is $142.49 million. Caesarstone posted sales of $148.14 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.7%. The business is expected to issue its next earnings results on Wednesday, February 6th.

According to Zacks, analysts expect that Caesarstone will report full year sales of $574.12 million for the current fiscal year, with estimates ranging from $572.75 million to $575.48 million. For the next financial year, analysts anticipate that the company will report sales of $583.59 million, with estimates ranging from $583.14 million to $584.04 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Caesarstone.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings data on Wednesday, November 7th. The construction company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The company had revenue of $147.70 million during the quarter, compared to the consensus estimate of $155.54 million. Caesarstone had a net margin of 2.93% and a return on equity of 6.40%. Caesarstone’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 EPS.

A number of analysts have commented on CSTE shares. BidaskClub downgraded shares of Caesarstone from a “sell” rating to a “strong sell” rating in a report on Saturday, July 28th. ValuEngine upgraded shares of Caesarstone from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 8th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Caesarstone has an average rating of “Hold” and a consensus target price of $21.33.

CSTE stock traded down $0.12 during mid-day trading on Friday, reaching $15.24. The company’s stock had a trading volume of 5,546 shares, compared to its average volume of 242,289. The company has a market cap of $527.59 million, a price-to-earnings ratio of 11.53 and a beta of 2.01. The company has a current ratio of 3.60, a quick ratio of 2.05 and a debt-to-equity ratio of 0.02. Caesarstone has a fifty-two week low of $12.50 and a fifty-two week high of $26.50.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 21st will be paid a $0.12 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $0.48 annualized dividend and a dividend yield of 3.15%. Caesarstone’s dividend payout ratio (DPR) is 45.11%.

Several institutional investors have recently bought and sold shares of CSTE. Russell Investments Group Ltd. boosted its position in shares of Caesarstone by 15.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 38,442 shares of the construction company’s stock worth $581,000 after purchasing an additional 5,281 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Caesarstone by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,509 shares of the construction company’s stock worth $1,065,000 after purchasing an additional 5,649 shares during the period. Stone Ridge Asset Management LLC boosted its position in shares of Caesarstone by 22.0% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 37,851 shares of the construction company’s stock worth $703,000 after purchasing an additional 6,819 shares during the period. Nisa Investment Advisors LLC purchased a new position in shares of Caesarstone during the 3rd quarter worth approximately $137,000. Finally, FMR LLC purchased a new position in shares of Caesarstone during the 2nd quarter worth approximately $151,000. 47.23% of the stock is owned by institutional investors and hedge funds.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.

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