Casella Waste Systems (NASDAQ:CWST) Issues Quarterly Earnings Results

Casella Waste Systems (NASDAQ:CWST) posted its quarterly earnings results on Friday. The industrial products company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01, Briefing.com reports. The company had revenue of $341.00 million for the quarter, compared to analysts’ expectations of $340.70 million. Casella Waste Systems had a return on equity of 4.48% and a net margin of 1.32%. Casella Waste Systems’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share.

Casella Waste Systems Stock Performance

Casella Waste Systems stock opened at $90.82 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.46 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $5.27 billion, a P/E ratio of 292.97, a PEG ratio of 5.84 and a beta of 0.90. Casella Waste Systems has a 52 week low of $72.97 and a 52 week high of $100.29. The stock has a fifty day moving average price of $94.35 and a 200 day moving average price of $87.01.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. StockNews.com raised shares of Casella Waste Systems from a “sell” rating to a “hold” rating in a research report on Friday, February 16th. Wells Fargo & Company boosted their price target on shares of Casella Waste Systems from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $99.71.

Insider Buying and Selling at Casella Waste Systems

In related news, President Edmond Coletta sold 8,271 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.30, for a total value of $746,871.30. Following the transaction, the president now owns 168,556 shares in the company, valued at $15,220,606.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO John W. Casella sold 1,673 shares of Casella Waste Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $94.13, for a total value of $157,479.49. Following the transaction, the chief executive officer now owns 35,189 shares of the company’s stock, valued at approximately $3,312,340.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Edmond Coletta sold 8,271 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.30, for a total transaction of $746,871.30. Following the sale, the president now owns 168,556 shares in the company, valued at approximately $15,220,606.80. The disclosure for this sale can be found here. Insiders have sold a total of 11,238 shares of company stock worth $1,026,395 in the last quarter. 4.24% of the stock is owned by insiders.

About Casella Waste Systems

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.