Brokers Set Expectations for Clean Harbors, Inc.’s Q1 2023 Earnings (NYSE:CLH)

Clean Harbors, Inc. (NYSE:CLH – Get Rating) – Equities research analysts at Oppenheimer reduced their Q1 2023 earnings estimates for Clean Harbors in a research note issued on Thursday, March 2nd. Oppenheimer analyst N. Kaye now expects that the business services provider will earn $1.22 per share for the quarter, down from their previous estimate of $1.26. Oppenheimer currently has a “Outperform” rating and a $145.00 price target on the stock. The consensus estimate for Clean Harbors’ current full-year earnings is $6.82 per share. Oppenheimer also issued estimates for Clean Harbors’ Q2 2023 earnings at $2.00 EPS, Q3 2023 earnings at $1.95 EPS, Q4 2023 earnings at $1.52 EPS, FY2023 earnings at $6.69 EPS, Q1 2024 earnings at $1.34 EPS, Q2 2024 earnings at $2.07 EPS, Q3 2024 earnings at $2.06 EPS, Q4 2024 earnings at $1.71 EPS and FY2024 earnings at $7.19 EPS.

Clean Harbors (NYSE:CLH – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.15. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Clean Harbors had a net margin of 7.97% and a return on equity of 22.03%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share.

CLH has been the topic of a number of other research reports. Needham & Company LLC increased their price target on shares of Clean Harbors from $140.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com raised shares of Clean Harbors from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 8th. Raymond James increased their price target on shares of Clean Harbors from $145.00 to $150.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 31st. Finally, BMO Capital Markets increased their price target on shares of Clean Harbors from $132.00 to $154.00 and gave the stock an “outperform” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $144.44.

Clean Harbors Stock Performance

NYSE:CLH opened at $136.47 on Friday. The company has a quick ratio of 1.72, a current ratio of 1.99 and a debt-to-equity ratio of 1.26. The company has a market cap of $7.38 billion, a P/E ratio of 18.05 and a beta of 1.37. Clean Harbors has a fifty-two week low of $81.56 and a fifty-two week high of $137.27. The firm’s 50 day moving average is $126.25 and its two-hundred day moving average is $120.20.

Insider Transactions at Clean Harbors

In related news, COO Eric W. Gerstenberg sold 16,409 shares of the firm’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $116.02, for a total transaction of $1,903,772.18. Following the completion of the sale, the chief operating officer now directly owns 61,332 shares of the company’s stock, valued at approximately $7,115,738.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Eric J. Dugas sold 3,274 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $122.39, for a total transaction of $400,704.86. Following the completion of the sale, the chief accounting officer now directly owns 26,286 shares of the company’s stock, valued at approximately $3,217,143.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Eric W. Gerstenberg sold 16,409 shares of the firm’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $116.02, for a total transaction of $1,903,772.18. Following the sale, the chief operating officer now directly owns 61,332 shares of the company’s stock, valued at $7,115,738.64. The disclosure for this sale can be found here. Insiders sold 26,760 shares of company stock valued at $3,188,665 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CLH. Norges Bank acquired a new position in Clean Harbors during the 4th quarter worth $66,014,000. Artemis Investment Management LLP lifted its position in shares of Clean Harbors by 30.7% in the 3rd quarter. Artemis Investment Management LLP now owns 1,364,963 shares of the business services provider’s stock worth $150,316,000 after buying an additional 320,550 shares during the last quarter. Thematics Asset Management bought a new position in shares of Clean Harbors in the 4th quarter worth about $34,267,000. Millennium Management LLC lifted its position in shares of Clean Harbors by 208.3% in the 2nd quarter. Millennium Management LLC now owns 424,551 shares of the business services provider’s stock worth $37,220,000 after buying an additional 286,841 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Clean Harbors by 51.1% in the 3rd quarter. Victory Capital Management Inc. now owns 646,771 shares of the business services provider’s stock worth $71,132,000 after buying an additional 218,711 shares during the last quarter. 88.13% of the stock is owned by institutional investors and hedge funds.

About Clean Harbors

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Clean Harbors, Inc engages in the provision of environmental, energy, and industrial services. It operates through the Environmental Services and the Safety-Kleen Sustainability Solutions segments. The Environmental Services segment consists of the technical services, industrial services, field services, and oil, gas, and lodging businesses.