Casella Waste Systems, Inc. Forecasted to Earn FY2024 Earnings of $0.59 Per Share (NASDAQ:CWST)

Casella Waste Systems, Inc. (NASDAQ:CWST) – Equities researchers at William Blair issued their FY2024 earnings estimates for Casella Waste Systems in a report released on Thursday, October 3rd. William Blair analyst T. Romeo expects that the industrial products company will earn $0.59 per share for the year. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Casella Waste Systems’ current full-year earnings is $0.62 per share. William Blair also issued estimates for Casella Waste Systems’ FY2025 earnings at $0.90 EPS and FY2026 earnings at $1.21 EPS.

Several other brokerages have also commented on CWST. Stifel Nicolaus reiterated a “buy” rating and issued a $117.00 price target (up from $110.00) on shares of Casella Waste Systems in a research note on Monday, August 5th. Raymond James increased their price objective on Casella Waste Systems from $121.00 to $122.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Casella Waste Systems currently has an average rating of “Moderate Buy” and a consensus target price of $108.20.

Casella Waste Systems Stock Down 0.3 %

CWST stock opened at $98.95 on Monday. The company’s 50 day moving average price is $103.57 and its 200 day moving average price is $99.82. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.51 and a current ratio of 1.58. Casella Waste Systems has a fifty-two week low of $72.97 and a fifty-two week high of $109.08. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 319.19, a PEG ratio of 7.89 and a beta of 0.99.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, August 1st. The industrial products company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.06). Casella Waste Systems had a return on equity of 3.83% and a net margin of 1.35%. The firm had revenue of $377.20 million for the quarter, compared to analysts’ expectations of $373.87 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The firm’s quarterly revenue was up 30.2% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Casella Waste Systems by 1.8% in the 2nd quarter. Principal Financial Group Inc. now owns 7,730 shares of the industrial products company’s stock valued at $767,000 after purchasing an additional 135 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Casella Waste Systems by 76.4% during the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 139 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Casella Waste Systems by 1.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,286 shares of the industrial products company’s stock worth $1,610,000 after purchasing an additional 160 shares during the period. Harbor Investment Advisory LLC grew its holdings in shares of Casella Waste Systems by 38.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 613 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 169 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Casella Waste Systems by 1.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,436 shares of the industrial products company’s stock worth $1,035,000 after purchasing an additional 183 shares during the period. Institutional investors and hedge funds own 99.51% of the company’s stock.

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.