Wall Street analysts predict that Caesarstone Ltd. (NASDAQ:CSTE) will post sales of $150.58 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Caesarstone’s earnings, with the highest sales estimate coming in at $150.89 million and the lowest estimate coming in at $150.26 million. Caesarstone posted sales of $144.31 million in the same quarter last year, which indicates a positive year over year growth rate of 4.3%. The firm is expected to report its next quarterly earnings report on Wednesday, November 1st.

According to Zacks, analysts expect that Caesarstone will report full-year sales of $150.58 million for the current financial year, with estimates ranging from $585.08 million to $586.24 million. For the next financial year, analysts expect that the company will report sales of $634.56 million per share, with estimates ranging from $620.10 million to $646.68 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Caesarstone.

Caesarstone (NASDAQ:CSTE) last issued its earnings results on Wednesday, August 2nd. The construction company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.14). Caesarstone had a return on equity of 14.21% and a net margin of 11.21%. The firm had revenue of $148.90 million during the quarter, compared to analysts’ expectations of $148.35 million. During the same period in the prior year, the company earned $0.73 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year.

A number of research firms have issued reports on CSTE. BidaskClub downgraded Caesarstone from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 9th. Credit Suisse Group began 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. TheStreet downgraded Caesarstone from a “b-” rating to a “c+” rating in a research report on Wednesday, June 28th. Zacks Investment Research raised shares of Caesarstone from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $47.00 target price on shares of Caesarstone in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Caesarstone currently has an average rating of “Hold” and a consensus target price of $38.20.

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A number of hedge funds have recently modified their holdings of CSTE. Wells Fargo & Company MN raised its position in Caesarstone by 7.5% during the first quarter. Wells Fargo & Company MN now owns 29,579 shares of the construction company’s stock valued at $1,072,000 after purchasing an additional 2,051 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Caesarstone by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 64,418 shares of the construction company’s stock valued at $2,335,000 after purchasing an additional 1,150 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Caesarstone by 344.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,475 shares of the construction company’s stock worth $126,000 after purchasing an additional 2,694 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Caesarstone in the 1st quarter worth approximately $387,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Caesarstone by 11.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 43,751 shares of the construction company’s stock worth $1,586,000 after purchasing an additional 4,454 shares during the period. Institutional investors and hedge funds own 52.87% of the company’s stock.

Caesarstone (CSTE) opened at 30.15 on Tuesday. Caesarstone has a 1-year low of $26.35 and a 1-year high of $44.00. The firm’s 50 day moving average is $29.12 and its 200 day moving average is $34.37. The stock has a market capitalization of $1.04 billion, a P/E ratio of 14.50 and a beta of 2.08.

Caesarstone Company Profile

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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