Casella Waste Systems (NASDAQ:CWST) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Key Points

• Casella Waste Systems reported quarterly EPS of $0.35, missing the $0.42 analyst consensus by $0.07. Revenue was $559.23 million, also below estimates of $563.17 million.
• Shares rose 0.8% to $99.02 in midday trading after the results.
• Analyst sentiment remains a Moderate Buy, with a consensus price target of $104.80; recent ratings included both upgrades to price targets and downgrades to neutral or sell.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) announced its earnings results on Monday. The industrial products company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07), FiscalAI reports. The business had revenue of $559.23 million during the quarter, compared to analyst estimates of $563.17 million. Casella Waste Systems had a return on equity of 5.32% and a net margin of 0.29%.

Casella Waste Systems Trading Up 0.8%

CWST stock traded up $0.81 during midday trading on Monday, reaching $99.02. The stock had a trading volume of 753,256 shares, compared to its average volume of 705,647. The business has a fifty day simple moving average of $89.24 and a two-hundred day simple moving average of $90.10. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.84. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 1,100.34 and a beta of 0.71. Casella Waste Systems has a twelve month low of $74.05 and a twelve month high of $107.96.

Insider Activity at Casella Waste Systems

In other news, Director Douglas R. Casella sold 1,343 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $91.12, for a total value of $122,374.16. Following the completion of the transaction, the director owned 90,141 shares of the company's stock, valued at $8,213,647.92. The trade was a 1.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael K. Burke sold 1,100 shares of the company's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $95.26, for a total transaction of $104,786.00. Following the completion of the sale, the director owned 13,641 shares of the company's stock, valued at approximately $1,299,441.66. This represents a 7.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 18,700 shares of company stock valued at $1,709,494. 3.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CWST shares. Weiss Ratings downgraded Casella Waste Systems from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, October 30th. UBS Group lowered Casella Waste Systems from a "buy" rating to a "neutral" rating and lowered their target price for the company from $122.00 to $95.00 in a research note on Wednesday, October 21st. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $106.00 price target on shares of Casella Waste Systems in a report on Friday, October 9th. Barclays upped their price target on shares of Casella Waste Systems from $102.00 to $104.00 and gave the stock an "overweight" rating in a research report on Monday, August 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Casella Waste Systems from $91.00 to $99.00 and gave the stock a "neutral" rating in a report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.80.

About Casella Waste Systems

Casella Waste Systems is a regional solid waste services company that provides collection, transfer, disposal, recycling and resource management services. Its customers include residential, commercial, municipal and industrial clients.

The company operates primarily in the northeastern United States, with services across states including Vermont, New Hampshire, New York, Maine, Massachusetts, Connecticut and Pennsylvania. Its operations also include recycling and organics services designed to recover materials and manage waste.

Founded in 1975 by brothers John and Douglas Casella, the company is headquartered in Rutland, Vermont.

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