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

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

Casella Waste Systems Stock Up 0.8%

NASDAQ:CWST traded up $0.81 on Monday, reaching $99.02. The stock had a trading volume of 753,256 shares, compared to its average volume of 705,647. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.84. The company has a 50-day moving average of $89.24 and a 200 day moving average of $90.10. The stock has a market cap of $6.30 billion, a P/E ratio of 1,100.34 and a beta of 0.71. Casella Waste Systems has a 12-month low of $74.05 and a 12-month high of $107.96.

Insider Transactions at Casella Waste Systems

In related news, Director Douglas R. Casella sold 1,343 shares of the stock in a transaction dated Friday, August 14th. The stock was 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 approximately $8,213,647.92. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael K. Burke sold 1,100 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $95.26, for a total value of $104,786.00. Following the completion of the transaction, the director directly owned 13,641 shares of the company’s stock, valued at $1,299,441.66. This represents a 7.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 18,700 shares of company stock worth $1,709,494. Corporate insiders own 3.78% of the company’s stock.

Wall Street Analyst Weigh In

CWST has been the subject of several recent research reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $106.00 price target on shares of Casella Waste Systems in a report on Friday, October 9th. UBS Group cut Casella Waste Systems from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $122.00 to $95.00 in a research note on Wednesday, October 21st. Barclays upped their target price on Casella Waste Systems from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Weiss Ratings lowered Casella Waste Systems from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on Casella Waste Systems from $91.00 to $99.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Casella Waste Systems currently has an average rating of “Moderate Buy” and a consensus price target 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.