Wall Street analysts expect Casella Waste Systems Inc. (NASDAQ:CWST) to post $183.23 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Casella Waste Systems’ earnings, with the highest sales estimate coming in at $184.00 million and the lowest estimate coming in at $182.70 million. Casella Waste Systems posted sales of $165.65 million in the same quarter last year, which suggests a positive year over year growth rate of 10.6%. The firm is scheduled to issue its next earnings report on Thursday, August 1st.
According to Zacks, analysts expect that Casella Waste Systems will report full-year sales of $718.63 million for the current financial year, with estimates ranging from $716.00 million to $721.00 million. For the next year, analysts anticipate that the company will post sales of $754.37 million, with estimates ranging from $750.00 million to $763.10 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Casella Waste Systems.
Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The firm had revenue of $163.70 million during the quarter, compared to the consensus estimate of $161.77 million. Casella Waste Systems had a return on equity of 390.60% and a net margin of 1.27%. Casella Waste Systems’s revenue for the quarter was up 11.0% compared to the same quarter last year.
In other news, General Counsel David L. Schmitt sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $37.23, for a total value of $372,300.00. Following the completion of the transaction, the general counsel now owns 25,959 shares in the company, valued at approximately $966,453.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John W. Casella sold 45,124 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $37.31, for a total value of $1,683,576.44. Following the completion of the transaction, the chief executive officer now owns 422,204 shares of the company’s stock, valued at approximately $15,752,431.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 713,933 shares of company stock valued at $25,591,752. Corporate insiders own 10.64% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oak Ridge Investments LLC bought a new position in shares of Casella Waste Systems in the 1st quarter valued at about $13,817,000. First Trust Advisors LP grew its holdings in shares of Casella Waste Systems by 1.1% in the 1st quarter. First Trust Advisors LP now owns 125,600 shares of the industrial products company’s stock valued at $4,466,000 after acquiring an additional 1,365 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Casella Waste Systems by 45.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 5,946 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 1,846 shares in the last quarter. US Bancorp DE bought a new position in shares of Casella Waste Systems in the 1st quarter valued at about $27,000. Finally, New York State Common Retirement Fund lifted its stake in Casella Waste Systems by 0.5% in the 1st quarter. New York State Common Retirement Fund now owns 621,817 shares of the industrial products company’s stock valued at $22,112,000 after purchasing an additional 2,955 shares during the last quarter. Institutional investors own 79.23% of the company’s stock.
Shares of Casella Waste Systems stock traded up $0.36 during trading hours on Monday, reaching $37.27. The stock had a trading volume of 13,736 shares, compared to its average volume of 292,875. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 61.13 and a beta of 0.94. The company has a debt-to-equity ratio of 6.53, a current ratio of 1.02 and a quick ratio of 0.96. Casella Waste Systems has a 1 year low of $23.38 and a 1 year high of $39.31.
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, Western, 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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