Casella Waste Systems (CWST) Scheduled to Post Earnings on Thursday

Casella Waste Systems (NASDAQ:CWST) is set to issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.07 per share for the quarter. Casella Waste Systems has set its FY 2024 guidance at EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Friday, February 16th. The industrial products company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Casella Waste Systems had a return on equity of 5.81% and a net margin of 2.01%. The business had revenue of $359.57 million for the quarter, compared to the consensus estimate of $360.08 million. During the same quarter in the previous year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, analysts expect Casella Waste Systems to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Casella Waste Systems Stock Performance

CWST opened at $92.45 on Thursday. The company has a quick ratio of 1.46, a current ratio of 1.53 and a debt-to-equity ratio of 0.99. Casella Waste Systems has a 12-month low of $72.97 and a 12-month high of $100.29. The business has a 50 day moving average of $93.87 and a 200-day moving average of $86.00. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 205.44, a PEG ratio of 6.20 and a beta of 0.90.

Insiders Place Their Bets

In related news, President Edmond Coletta sold 8,271 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $90.30, for a total value of $746,871.30. Following the completion of the sale, the president now directly owns 168,556 shares in the company, valued at $15,220,606.80. The sale was disclosed in a filing with the SEC, which is available at this link. In other Casella Waste Systems news, CEO John W. Casella sold 1,673 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $94.13, for a total transaction of $157,479.49. Following the completion of the transaction, the chief executive officer now owns 35,189 shares of the company’s stock, valued at $3,312,340.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Edmond Coletta sold 8,271 shares of Casella Waste Systems 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 directly owns 168,556 shares in the company, valued at $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. Corporate insiders own 5.05% of the company’s stock.

Hedge Funds Weigh In On Casella Waste Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in CWST. Vanguard Group Inc. raised its position in Casella Waste Systems by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 5,478,870 shares of the industrial products company’s stock valued at $468,224,000 after purchasing an additional 92,085 shares during the last quarter. BlackRock Inc. boosted its stake in Casella Waste Systems by 16.3% during the second quarter. BlackRock Inc. now owns 3,801,906 shares of the industrial products company’s stock worth $343,882,000 after acquiring an additional 532,019 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Casella Waste Systems by 3.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,494,745 shares of the industrial products company’s stock valued at $206,216,000 after buying an additional 88,332 shares during the period. Invesco Ltd. increased its position in Casella Waste Systems by 4.2% in the 1st quarter. Invesco Ltd. now owns 1,554,713 shares of the industrial products company’s stock valued at $136,272,000 after buying an additional 63,251 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in Casella Waste Systems by 12.8% in the second quarter. Macquarie Group Ltd. now owns 1,481,041 shares of the industrial products company’s stock valued at $107,642,000 after acquiring an additional 167,549 shares during the period. Institutional investors own 99.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CWST shares. StockNews.com raised Casella Waste Systems from a “sell” rating to a “hold” rating in a report on Friday, February 16th. Wells Fargo & Company lifted their target price on shares of Casella Waste Systems from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $99.71.

Casella Waste Systems Company Profile

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.