Somewhat Favorable News Coverage Somewhat Unlikely to Impact Caesarstone (CSTE) Stock Price
News stories about Caesarstone (NASDAQ:CSTE) have been trending somewhat positive recently, according to Accern Sentiment Analysis. The research firm ranks the sentiment of press coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Caesarstone earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned headlines about the construction company an impact score of 46.2755292103613 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the media stories that may have impacted Accern’s scoring:
- Caesarstone Ltd (CSTE), and Gladstone Commercial Corp (GOOD) Seeing Increased Action in Session – Wall Street Review (thewallstreetreview.com)
- Caesarstone Ltd. (CSTE) Given Consensus Recommendation of “Hold” by Brokerages (americanbankingnews.com)
- Caesarstone Ltd (CSTE) Shares Move -1.03% – FLBC News (flbcnews.com)
- Caesarstone Ltd. – Ordinary Sha (NASDAQ:CSTE) Stock Traded Much Lower Than Its 50 Day Moving Average – Highlight Press (highlightpress.com)
- Stock Trading Near the 52-Week Low Caesarstone Ltd. (NASDAQ:CSTE) – Sparta Review (spartareview.com)
CSTE has been the subject of several research analyst reports. BidaskClub lowered Caesarstone from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $47.00 target price on shares of Caesarstone in a research report on Thursday, August 3rd. TheStreet lowered Caesarstone from a “b-” rating to a “c+” rating in a research report on Wednesday, June 28th. Zacks Investment Research raised Caesarstone from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Credit Suisse Group initiated coverage on Caesarstone in a research report on Thursday, June 22nd. They set a “neutral” rating and a $37.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $38.20.
Shares of Caesarstone (NASDAQ:CSTE) traded up 1.05% during midday trading on Wednesday, hitting $28.90. The stock had a trading volume of 212,112 shares. The stock’s 50-day moving average is $32.50 and its 200-day moving average is $35.15. The stock has a market cap of $992.34 million, a PE ratio of 16.51 and a beta of 2.08. Caesarstone has a 12 month low of $26.35 and a 12 month high of $44.00.
Caesarstone (NASDAQ:CSTE) last released its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by $0.14. The business had revenue of $148.90 million during the quarter, compared to analyst estimates of $148.35 million. Caesarstone had a return on equity of 14.21% and a net margin of 11.21%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 EPS. Equities analysts anticipate that Caesarstone will post $1.94 EPS for the current year.
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Caesarstone Ltd., formerly Caesarstone Sdot-Yam Ltd., is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.
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