Casella Waste Systems (NASDAQ:CWST) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Casella Waste Systems beat quarterly estimates: EPS came in at $0.40 versus the $0.36 consensus, while revenue reached $543.75 million, above expectations of $526.43 million.
• Shares rose 0.5% to $90.46 following the results. The stock has a $5.75 billion market capitalization and trades at a very high price-to-earnings ratio of 822.44.
• Analyst sentiment remains moderately bullish, with an average price target of $110.12 and seven Buy ratings, although insider selling and one Sell rating provide some caution.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) posted its quarterly earnings data on Thursday. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.04, FiscalAI reports. The company had revenue of $543.75 million during the quarter, compared to the consensus estimate of $526.43 million. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%.

Casella Waste Systems Stock Up 0.5%

Shares of Casella Waste Systems stock traded up $0.42 during trading on Thursday, hitting $90.46. The company's stock had a trading volume of 873,597 shares, compared to its average volume of 760,797. Casella Waste Systems has a 52 week low of $74.05 and a 52 week high of $107.96. The company has a market capitalization of $5.75 billion, a PE ratio of 822.44 and a beta of 0.74. The company has a fifty day simple moving average of $90.92 and a two-hundred day simple moving average of $90.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.38 and a current ratio of 1.38.

Insider Transactions at Casella Waste Systems

In other Casella Waste Systems news, CEO Edmond Coletta sold 12,500 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total value of $1,119,500.00. Following the sale, the chief executive officer owned 140,118 shares in the company, valued at approximately $12,548,968.08. This represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael K. Burke sold 2,305 shares of Casella Waste Systems stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total transaction of $201,825.80. Following the transaction, the director owned 14,048 shares of the company's stock, valued at $1,230,042.88. The trade was a 14.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Casella Waste Systems

A number of large investors have recently made changes to their positions in CWST. Los Angeles Capital Management LLC purchased a new position in shares of Casella Waste Systems in the 4th quarter worth $27,000. Geneos Wealth Management Inc. grew its holdings in Casella Waste Systems by 301.6% during the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 184 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 200 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Casella Waste Systems by 75.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 521 shares of the industrial products company's stock worth $52,000 after purchasing an additional 224 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Casella Waste Systems by 173.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 593 shares of the industrial products company's stock valued at $56,000 after buying an additional 376 shares in the last quarter. 99.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CWST shares. TD Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a report on Friday, June 5th. UBS Group cut their price objective on Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating on the stock in a research report on Friday, June 26th. Zacks Research raised Casella Waste Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 8th. Barclays upgraded shares of Casella Waste Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $101.00 to $102.00 in a report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $110.12.

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.

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