Caesarstone (NASDAQ:CSTE) Posts Earnings Results, Misses Estimates By $0.10 EPS

Caesarstone (NASDAQ:CSTE) announced its quarterly earnings results on Wednesday. The construction company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.10), FiscalAI reports. Caesarstone had a negative net margin of 34.60% and a negative return on equity of 21.72%. The firm had revenue of $94.44 million during the quarter, compared to analyst estimates of $93.70 million.

Caesarstone Price Performance

CSTE stock traded down $0.01 during trading hours on Friday, reaching $0.81. 181,454 shares of the stock were exchanged, compared to its average volume of 174,839. The firm’s 50-day moving average is $1.96 and its 200-day moving average is $1.60. The company has a market cap of $27.95 million, a price-to-earnings ratio of -0.20 and a beta of -0.03. Caesarstone has a 12 month low of $0.79 and a 12 month high of $3.40.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Caesarstone to a “strong sell” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Pitcairn Co. acquired a new stake in Caesarstone in the 2nd quarter valued at approximately $31,000. Virtu Financial LLC bought a new position in shares of Caesarstone during the 4th quarter worth approximately $30,000. Qube Research & Technologies Ltd bought a new position in shares of Caesarstone during the 2nd quarter worth approximately $56,000. Citadel Advisors LLC raised its holdings in shares of Caesarstone by 163.7% in the third quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after purchasing an additional 39,474 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Caesarstone in the second quarter worth $263,000. 33.70% of the stock is currently owned by institutional investors.

About Caesarstone

Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company’s core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone’s products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.

Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.