Brokerages Expect Clean Harbors, Inc. (CLH) Will Post Quarterly Sales of $770.16 Million
Wall Street brokerages forecast that Clean Harbors, Inc. (NYSE:CLH) will announce sales of $770.16 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Clean Harbors’ earnings. The highest sales estimate is $776.79 million and the lowest is $762.60 million. Clean Harbors reported sales of $729.52 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.6%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Clean Harbors will report full-year sales of $770.16 million for the current financial year, with estimates ranging from $2.93 billion to $2.96 billion. For the next year, analysts anticipate that the firm will post sales of $3.10 billion per share, with estimates ranging from $3.05 billion to $3.16 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Clean Harbors.
Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, August 2nd. The business services provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). The firm had revenue of $752.80 million during the quarter, compared to the consensus estimate of $735.63 million. Clean Harbors had a negative net margin of 0.65% and a positive return on equity of 0.79%. Clean Harbors’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share.
Several equities research analysts recently weighed in on CLH shares. Stifel Nicolaus restated a “buy” rating and set a $67.00 target price on shares of Clean Harbors in a report on Wednesday, July 19th. Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of Clean Harbors in a report on Thursday, July 13th. Barclays PLC upgraded Clean Harbors from an “underweight” rating to an “equal weight” rating and set a $50.00 target price for the company in a report on Monday, August 7th. ValuEngine upgraded Clean Harbors from a “sell” rating to a “hold” rating in a report on Thursday, August 31st. Finally, Canaccord Genuity restated a “hold” rating and set a $57.00 target price on shares of Clean Harbors in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $62.00.
In other Clean Harbors news, COO Eric W. Gerstenberg sold 4,667 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $50.42, for a total transaction of $235,310.14. Following the completion of the transaction, the chief operating officer now owns 91,950 shares of the company’s stock, valued at approximately $4,636,119. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian P. Weber sold 490 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $56.18, for a total value of $27,528.20. Following the transaction, the executive vice president now directly owns 59,413 shares of the company’s stock, valued at approximately $3,337,822.34. The disclosure for this sale can be found here. Insiders have sold a total of 6,090 shares of company stock valued at $313,845 over the last 90 days. 8.90% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Clean Harbors by 9.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 188 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Clean Harbors by 15.7% during the 1st quarter. Asset Management One Co. Ltd. now owns 3,530 shares of the business services provider’s stock valued at $196,000 after purchasing an additional 480 shares during the last quarter. World Asset Management Inc bought a new position in Clean Harbors during the 2nd quarter valued at approximately $201,000. Balyasny Asset Management LLC bought a new position in Clean Harbors during the 2nd quarter valued at approximately $203,000. Finally, Nomura Holdings Inc. bought a new position in Clean Harbors during the 1st quarter valued at approximately $205,000. 94.18% of the stock is owned by institutional investors and hedge funds.
Clean Harbors (NYSE CLH) opened at 57.66 on Friday. The firm has a 50-day moving average price of $54.21 and a 200 day moving average price of $55.95. Clean Harbors has a 52-week low of $43.03 and a 52-week high of $61.62. The company’s market capitalization is $3.30 billion.
About Clean Harbors
Clean Harbors, Inc is a provider of environmental, energy and industrial services throughout North America. The Company is also a re-refiner and recycler of used oil in the world and a provider of parts cleaning and related environmental services to commercial, industrial and automotive customers in North America.
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