Wall Street brokerages forecast that Caesarstone Ltd (NASDAQ:CSTE) will report $141.13 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Caesarstone’s earnings. The highest sales estimate is $142.49 million and the lowest is $139.76 million. Caesarstone reported sales of $148.14 million in the same quarter last year, which would suggest a negative year over year growth rate of 4.7%. The firm is scheduled to issue its next earnings report on Wednesday, February 6th.

On average, analysts expect that Caesarstone will report full year sales of $574.12 million for the current fiscal year, with estimates ranging from $572.75 million to $575.48 million. For the next financial year, analysts anticipate that the firm will post sales of $583.59 million, with estimates ranging from $583.14 million to $584.04 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Caesarstone.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings results on Wednesday, November 7th. The construction company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Caesarstone had a return on equity of 6.40% and a net margin of 2.93%. The company had revenue of $147.70 million during the quarter, compared to analysts’ expectations of $155.54 million. During the same period last year, the business posted $0.37 earnings per share. The firm’s revenue was down 4.5% compared to the same quarter last year.

CSTE has been the subject of several research analyst reports. Credit Suisse Group reduced their price objective on Caesarstone from $15.00 to $13.00 and set a “sell” rating for the company in a research note on Thursday, November 8th. ValuEngine upgraded Caesarstone from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Finally, BidaskClub cut Caesarstone from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 28th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $21.33.

Shares of NASDAQ:CSTE opened at $15.29 on Friday. Caesarstone has a 52-week low of $12.50 and a 52-week high of $26.50. The stock has a market capitalization of $510.77 million, a PE ratio of 11.50 and a beta of 2.01. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.60 and a quick ratio of 2.05.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 21st will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Tuesday, November 20th. Caesarstone’s payout ratio is 45.11%.

Large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new position in shares of Caesarstone in the third quarter worth about $137,000. FMR LLC acquired a new stake in Caesarstone during the second quarter worth about $151,000. Hartford Investment Management Co. acquired a new stake in Caesarstone during the third quarter worth about $305,000. DekaBank Deutsche Girozentrale acquired a new stake in Caesarstone during the third quarter worth about $375,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Caesarstone during the second quarter worth about $415,000. Hedge funds and other institutional investors own 46.72% of the company’s stock.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.

See Also: What is the Dividend Aristocrat Index?

Get a free copy of the Zacks research report on Caesarstone (CSTE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Caesarstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caesarstone and related companies with MarketBeat.com's FREE daily email newsletter.