Brokerages forecast that Quest Resource Holding Corp (NASDAQ:QRHC) will post $28.16 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Quest Resource’s earnings, with the lowest sales estimate coming in at $28.00 million and the highest estimate coming in at $28.33 million. Quest Resource posted sales of $27.93 million in the same quarter last year, which suggests a positive year over year growth rate of 0.8%. The business is scheduled to issue its next earnings report on Tuesday, August 13th.
On average, analysts expect that Quest Resource will report full-year sales of $116.46 million for the current year, with estimates ranging from $115.20 million to $117.72 million. For the next year, analysts forecast that the business will report sales of $136.83 million, with estimates ranging from $132.00 million to $141.66 million. Zacks’ sales calculations are an average based on a survey of analysts that cover Quest Resource.
Quest Resource (NASDAQ:QRHC) last released its earnings results on Wednesday, May 15th. The business services provider reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $26.65 million for the quarter, compared to analysts’ expectations of $26.49 million. Quest Resource had a negative return on equity of 1.13% and a negative net margin of 1.22%.
A number of research analysts have recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Quest Resource in a research note on Thursday, May 16th. Roth Capital reaffirmed a “buy” rating on shares of Quest Resource in a research note on Monday, April 15th.
In related news, insider Mitchell A. Saltz sold 3,700,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $1.74, for a total value of $6,438,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey D. Forte sold 500,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $1.50, for a total value of $750,000.00. The disclosure for this sale can be found here. 48.06% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Deutsche Bank AG grew its stake in Quest Resource by 124.3% in the fourth quarter. Deutsche Bank AG now owns 20,185 shares of the business services provider’s stock worth $27,000 after purchasing an additional 11,185 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in Quest Resource by 120.5% in the fourth quarter. Essex Investment Management Co. LLC now owns 131,453 shares of the business services provider’s stock worth $179,000 after purchasing an additional 71,835 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Quest Resource by 18.8% in the third quarter. Renaissance Technologies LLC now owns 226,370 shares of the business services provider’s stock worth $580,000 after purchasing an additional 35,760 shares in the last quarter. 14.00% of the stock is currently owned by institutional investors.
Shares of QRHC traded up $0.07 during mid-day trading on Thursday, reaching $2.80. 111,880 shares of the company’s stock traded hands, compared to its average volume of 19,037. The stock has a market cap of $40.47 million, a price-to-earnings ratio of -23.33, a P/E/G ratio of 16.00 and a beta of 2.18. Quest Resource has a 12 month low of $1.26 and a 12 month high of $3.10. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.23 and a current ratio of 1.23.
Quest Resource Company Profile
Quest Resource Holding Corporation, through its subsidiaries, provides solutions for the reuse, recycle, and dispose various waste streams and recyclables in the United States. The company offers recycling and waste management services for motor oil, oil filters, scrap tires, grease and cooking oil, food waste, and expired food products; and various other materials, such as glass, cardboard, paper, and metal, as well as hazardous materials, plastics, construction debris, batteries, mercury, lights, regulated waste, electronic devices, and industrial cleaning products.
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