Clean Harbors FY2024 EPS Forecast Lowered by Zacks Research

Clean Harbors, Inc. (NYSE:CLH) – Equities research analysts at Zacks Research reduced their FY2024 earnings per share estimates for shares of Clean Harbors in a research report issued on Wednesday, November 20th. Zacks Research analyst S. Goswami now anticipates that the business services provider will post earnings per share of $7.22 for the year, down from their prior estimate of $7.65. The consensus estimate for Clean Harbors’ current full-year earnings is $7.29 per share. Zacks Research also issued estimates for Clean Harbors’ Q4 2024 earnings at $1.35 EPS, Q1 2025 earnings at $1.36 EPS, Q4 2025 earnings at $1.73 EPS, FY2025 earnings at $7.89 EPS and Q1 2026 earnings at $2.06 EPS.

CLH has been the subject of several other research reports. Stifel Nicolaus reissued a “buy” rating and set a $275.00 price objective (up previously from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. The Goldman Sachs Group upped their price target on Clean Harbors from $223.00 to $256.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Truist Financial raised their price objective on shares of Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird cut their target price on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, StockNews.com lowered shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $254.33.

Clean Harbors Trading Up 1.0 %

Shares of NYSE:CLH opened at $252.50 on Monday. Clean Harbors has a 1 year low of $158.42 and a 1 year high of $267.11. The firm has a fifty day moving average price of $249.86 and a 200 day moving average price of $235.27. The stock has a market capitalization of $13.61 billion, a PE ratio of 32.88 and a beta of 1.20. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.10.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.03). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.68 EPS.

Institutional Investors Weigh In On Clean Harbors

A number of hedge funds have recently made changes to their positions in CLH. Innealta Capital LLC bought a new position in Clean Harbors in the 2nd quarter valued at $25,000. UMB Bank n.a. raised its holdings in shares of Clean Harbors by 63.4% in the third quarter. UMB Bank n.a. now owns 214 shares of the business services provider’s stock valued at $52,000 after buying an additional 83 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in Clean Harbors during the 2nd quarter worth about $56,000. Prospera Private Wealth LLC bought a new stake in Clean Harbors during the 3rd quarter worth about $56,000. Finally, CENTRAL TRUST Co increased its position in Clean Harbors by 161.6% in the 3rd quarter. CENTRAL TRUST Co now owns 259 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

Insider Activity

In other Clean Harbors news, insider Robert Speights sold 610 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $240.14, for a total value of $146,485.40. Following the sale, the insider now directly owns 39,160 shares in the company, valued at $9,403,882.40. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lauren States sold 309 shares of Clean Harbors stock in a transaction on Monday, September 16th. The shares were sold at an average price of $244.09, for a total value of $75,423.81. Following the transaction, the director now directly owns 13,458 shares of the company’s stock, valued at approximately $3,284,963.22. The trade was a 2.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,586 shares of company stock worth $4,351,841. Corporate insiders own 5.90% of the company’s stock.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.