Casella Waste Systems (NASDAQ:CWST) Announces Earnings Results, Beats Expectations By $0.08 EPS

Casella Waste Systems (NASDAQ:CWST) issued its quarterly earnings data on Thursday. The industrial products company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.08, FiscalAI reports. The business had revenue of $469.06 million for the quarter, compared to analysts’ expectations of $471.32 million. Casella Waste Systems had a return on equity of 5.63% and a net margin of 0.85%.The business’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS.

Casella Waste Systems Price Performance

NASDAQ CWST opened at $101.28 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.51 and a debt-to-equity ratio of 0.72. The company has a market cap of $6.43 billion, a PE ratio of 422.02 and a beta of 0.79. Casella Waste Systems has a 52 week low of $82.22 and a 52 week high of $121.24. The firm’s 50-day simple moving average is $102.26 and its two-hundred day simple moving average is $96.27.

Institutional Trading of Casella Waste Systems

A number of institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp boosted its stake in shares of Casella Waste Systems by 3.9% during the 3rd quarter. Mackenzie Financial Corp now owns 3,975 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 149 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Casella Waste Systems by 301.6% in the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock worth $27,000 after buying an additional 184 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Casella Waste Systems by 235.3% in the second quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company’s stock worth $33,000 after buying an additional 200 shares during the period. CIBC Private Wealth Group LLC boosted its position in Casella Waste Systems by 46.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 662 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 211 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Casella Waste Systems by 75.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 521 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 224 shares during the period. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CWST has been the subject of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Casella Waste Systems in a report on Thursday, December 11th. They issued a “neutral” rating and a $112.00 target price for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Casella Waste Systems in a research note on Monday, December 29th. Raymond James Financial reissued a “strong-buy” rating and set a $120.00 target price on shares of Casella Waste Systems in a research report on Monday, November 3rd. Barclays set a $95.00 target price on Casella Waste Systems and gave the company an “equal weight” rating in a report on Monday, November 3rd. Finally, UBS Group lifted their price target on Casella Waste Systems from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.33.

About Casella Waste Systems

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.