Casella Waste Systems (NASDAQ:CWST) Posts Earnings Results, Misses Expectations By $0.01 EPS

Casella Waste Systems (NASDAQ:CWST) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01), Briefing.com reports. The company had revenue of $411.63 million for the quarter, compared to analysts’ expectations of $412.59 million. Casella Waste Systems had a return on equity of 3.83% and a net margin of 1.35%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. Casella Waste Systems updated its FY 2024 guidance to EPS.

Casella Waste Systems Stock Down 1.9 %

Shares of NASDAQ:CWST traded down $1.91 during midday trading on Thursday, reaching $99.38. The company had a trading volume of 126,682 shares, compared to its average volume of 313,421. Casella Waste Systems has a one year low of $74.00 and a one year high of $109.08. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.51. The stock has a market capitalization of $5.78 billion, a P/E ratio of 300.45, a PEG ratio of 7.90 and a beta of 0.99. The stock’s fifty day moving average price is $102.91 and its 200-day moving average price is $100.49.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CWST. William Blair initiated coverage on Casella Waste Systems in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Raymond James raised their target price on shares of Casella Waste Systems from $121.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $117.00 price target (up previously from $110.00) on shares of Casella Waste Systems in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Casella Waste Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.