Analysts Anticipate Clean Harbors, Inc. (CLH) Will Post Quarterly Sales of $726.00 Million
Equities analysts expect Clean Harbors, Inc. (NYSE:CLH) to post sales of $726.00 million for the current quarter, Zacks reports. Five analysts have provided estimates for Clean Harbors’ earnings. The lowest sales estimate is $710.90 million and the highest is $736.00 million. Clean Harbors reported sales of $692.11 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.9%. The business is expected to report its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Clean Harbors will report full-year sales of $726.00 million for the current financial year, with estimates ranging from $2.91 billion to $2.93 billion. For the next year, analysts anticipate that the business will report sales of $3.09 billion per share, with estimates ranging from $3.05 billion to $3.12 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Clean Harbors.
Several equities research analysts recently issued reports on CLH shares. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price target on shares of Clean Harbors in a report on Friday, November 3rd. Zacks Investment Research downgraded Clean Harbors from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. ValuEngine upgraded Clean Harbors from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. UBS AG upgraded Clean Harbors from an “underperform” rating to a “market perform” rating in a research note on Thursday, November 2nd. Finally, KeyCorp restated a “hold” rating on shares of Clean Harbors in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $61.00.
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In other news, insider David J. Vergo sold 1,097 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $54.00, for a total transaction of $59,238.00. Following the transaction, the insider now owns 24,156 shares of the company’s stock, valued at approximately $1,304,424. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Eric W. Gerstenberg sold 4,667 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $50.42, for a total value of $235,310.14. Following the transaction, the chief operating officer now directly owns 91,950 shares in the company, valued at approximately $4,636,119. The disclosure for this sale can be found here. Insiders have sold a total of 7,187 shares of company stock worth $373,083 in the last ninety days. Insiders own 8.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of 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 buying an additional 188 shares during the last quarter. World Asset Management Inc purchased a new position in shares of Clean Harbors during the 2nd quarter valued at $201,000. Balyasny Asset Management LLC purchased a new position in shares of Clean Harbors during the 2nd quarter valued at $203,000. Stifel Financial Corp purchased a new position in shares of Clean Harbors during the 3rd quarter valued at $211,000. Finally, Shelton Capital Management purchased a new stake in Clean Harbors during the 2nd quarter worth about $221,000. 93.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Clean Harbors (NYSE CLH) traded down $0.26 during trading on Tuesday, reaching $53.34. The company had a trading volume of 381,900 shares, compared to its average volume of 317,688. Clean Harbors has a 1-year low of $48.05 and a 1-year high of $61.62. The company has a market capitalization of $3,051.64, a P/E ratio of 268.00 and a beta of 1.04. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.19 and a quick ratio of 1.86.
Clean Harbors declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 1st that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
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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