Casella Waste Systems (NASDAQ:CWST) Issues Earnings Results, Misses Estimates By $0.01 EPS

by · The Markets Daily

Casella Waste Systems (NASDAQ:CWST – Get Free Report) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01), Briefing.com reports. The firm had revenue of $411.63 million during the quarter, compared to the consensus estimate of $412.59 million. Casella Waste Systems had a net margin of 0.46% and a return on equity of 3.42%. The business’s revenue was up 16.7% compared to the same quarter last year. During the same period last year, the business earned $0.35 earnings per share. Casella Waste Systems updated its FY 2024 guidance to EPS.

Casella Waste Systems Stock Up 1.8 %

Shares of NASDAQ:CWST traded up $1.74 during midday trading on Friday, hitting $99.62. 53,339 shares of the company’s stock were exchanged, compared to its average volume of 313,564. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.51. The stock has a 50 day moving average price of $102.76 and a 200-day moving average price of $100.47. The company has a market cap of $5.79 billion, a PE ratio of 815.67, a price-to-earnings-growth ratio of 8.07 and a beta of 0.99. Casella Waste Systems has a 12 month low of $74.00 and a 12 month high of $109.08.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Stifel Nicolaus restated a “buy” rating and issued a $117.00 target price (up previously from $110.00) on shares of Casella Waste Systems in a research report on Monday, August 5th. Raymond James raised their target price on shares of Casella Waste Systems from $121.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. Finally, William Blair started coverage on shares of Casella Waste Systems in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Casella Waste Systems has an average rating of “Moderate Buy” and an average price target of $111.25.

View Our Latest Research Report on Casella Waste Systems

About Casella Waste Systems

(Get Free Report)

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.

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