Casella Waste Systems (NASDAQ:CWST) Announces Quarterly Earnings Results

Casella Waste Systems (NASDAQ:CWST) announced its earnings results on Thursday. The industrial products company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.22 by $0.08, FiscalAI reports. The firm had revenue of $469.06 million for the quarter, compared to the consensus estimate of $471.32 million. Casella Waste Systems had a return on equity of 5.63% and a net margin of 0.85%.

Casella Waste Systems Stock Down 1.0%

Shares of CWST traded down $1.06 during trading hours on Thursday, reaching $101.28. The stock had a trading volume of 1,002,665 shares, compared to its average volume of 612,161. The firm has a 50-day simple moving average of $102.22 and a 200 day simple moving average of $96.24. Casella Waste Systems has a 12 month low of $82.22 and a 12 month high of $121.24. The company has a current ratio of 1.51, a quick ratio of 1.43 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 422.02 and a beta of 0.79.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CWST shares. UBS Group lifted their price objective on Casella Waste Systems from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Zacks Research upgraded shares of Casella Waste Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Jefferies Financial Group set a $120.00 price objective on shares of Casella Waste Systems and gave the company a “buy” rating in a research note on Tuesday, January 6th. Barclays set a $95.00 price objective on shares of Casella Waste Systems and gave the stock an “equal weight” rating in a research report on Monday, November 3rd. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $120.00 target price on shares of Casella Waste Systems in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CWST. Los Angeles Capital Management LLC acquired a new position in shares of Casella Waste Systems during the fourth quarter valued at about $27,000. Geneos Wealth Management Inc. raised its holdings in shares of Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 184 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Casella Waste Systems by 235.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Casella Waste Systems by 75.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 521 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 224 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Casella Waste Systems by 173.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 593 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 376 shares during the last quarter. 99.51% of the stock is owned by institutional investors.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.