Caesarstone (NASDAQ:CSTE) Releases Earnings Results

Caesarstone (NASDAQ:CSTEGet Rating) issued its quarterly earnings data on Wednesday. The construction company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05, MarketWatch Earnings reports. Caesarstone had a net margin of 2.95% and a return on equity of 5.47%. During the same period in the prior year, the company earned $0.41 earnings per share. Caesarstone updated its FY 2022 guidance to EPS.

CSTE stock opened at $9.83 on Friday. Caesarstone has a 52 week low of $8.22 and a 52 week high of $17.69. The stock has a market capitalization of $338.84 million, a P/E ratio of 33.90 and a beta of 0.74. The company has a quick ratio of 1.11, a current ratio of 2.23 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $10.53 and a 200-day simple moving average of $11.49.

A number of analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Caesarstone in a research note on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research raised shares of Caesarstone from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 12th.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its stake in Caesarstone by 60.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,370 shares of the construction company’s stock valued at $79,000 after acquiring an additional 2,411 shares in the last quarter. Royal Bank of Canada grew its stake in Caesarstone by 21.9% during the 2nd quarter. Royal Bank of Canada now owns 7,911 shares of the construction company’s stock valued at $117,000 after acquiring an additional 1,423 shares in the last quarter. Wells Fargo & Company MN purchased a new stake in Caesarstone during the 4th quarter valued at about $141,000. Stifel Financial Corp grew its stake in Caesarstone by 17.0% during the 4th quarter. Stifel Financial Corp now owns 12,980 shares of the construction company’s stock valued at $147,000 after acquiring an additional 1,884 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Caesarstone by 116.0% during the 4th quarter. Cubist Systematic Strategies LLC now owns 23,095 shares of the construction company’s stock valued at $262,000 after acquiring an additional 12,404 shares in the last quarter. 50.36% of the stock is owned by institutional investors.

Caesarstone Company Profile (Get Rating)

Caesarstone Ltd., together with its subsidiaries, develops, manufactures, and markets engineered quartz and other surfaces under the Caesarstone brand in the United States, Australia, Canada, Latin America, Asia, Israel, Europe, the Middle East, and Africa. The company's engineered quartz slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling construction end markets.

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Earnings History for Caesarstone (NASDAQ:CSTE)

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