Caesarstone (NASDAQ:CSTE) Posts Earnings Results, Misses Estimates By $0.10 EPS

Caesarstone (NASDAQ:CSTE) issued its quarterly earnings results on Wednesday. The construction company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.10), FiscalAI reports. Caesarstone had a negative return on equity of 19.35% and a negative net margin of 18.44%.The company had revenue of $94.44 million during the quarter, compared to analysts’ expectations of $93.70 million.

Caesarstone Trading Down 27.6%

Shares of NASDAQ CSTE traded down $0.34 during midday trading on Wednesday, hitting $0.89. The company’s stock had a trading volume of 2,289,316 shares, compared to its average volume of 160,823. The firm has a market capitalization of $30.75 million, a price-to-earnings ratio of -0.44 and a beta of -0.03. The stock has a fifty day moving average price of $1.99 and a 200 day moving average price of $1.61. Caesarstone has a one year low of $0.86 and a one year high of $3.70.

Institutional Investors Weigh In On Caesarstone

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in shares of Caesarstone in the fourth quarter worth $30,000. Pitcairn Co. purchased a new stake in Caesarstone during the 2nd quarter worth about $31,000. Qube Research & Technologies Ltd bought a new position in Caesarstone in the 2nd quarter worth about $56,000. Citadel Advisors LLC grew its holdings in Caesarstone by 163.7% during the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after buying an additional 39,474 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Caesarstone during the second quarter valued at about $263,000. Institutional investors own 33.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Caesarstone to a “strong sell” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

About Caesarstone

Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company’s core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone’s products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.

Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.