Zacks: Brokerages Expect Clean Harbors, Inc. (NYSE:CLH) to Announce $0.98 Earnings Per Share

Wall Street brokerages predict that Clean Harbors, Inc. (NYSE:CLH) will announce earnings per share (EPS) of $0.98 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Clean Harbors’ earnings, with estimates ranging from $0.85 to $1.13. Clean Harbors reported earnings per share of $0.90 during the same quarter last year, which would suggest a positive year over year growth rate of 8.9%. The firm is scheduled to report its next quarterly earnings results on Wednesday, November 3rd.

According to Zacks, analysts expect that Clean Harbors will report full year earnings of $3.25 per share for the current financial year, with EPS estimates ranging from $3.23 to $3.26. For the next financial year, analysts forecast that the business will report earnings of $3.14 per share, with EPS estimates ranging from $2.88 to $3.55. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Clean Harbors.

Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, August 4th. The business services provider reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.38. Clean Harbors had a net margin of 5.53% and a return on equity of 12.86%. The business had revenue of $926.46 million during the quarter, compared to analysts’ expectations of $847.51 million. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue was up 30.5% on a year-over-year basis.

Several analysts have recently weighed in on CLH shares. Needham & Company LLC raised their price objective on shares of Clean Harbors from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. Robert W. Baird raised their price objective on shares of Clean Harbors from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Zacks Investment Research raised shares of Clean Harbors from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a report on Thursday, July 8th. Finally, Raymond James raised their price objective on shares of Clean Harbors from $107.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Clean Harbors has a consensus rating of “Buy” and a consensus price target of $97.00.

In other Clean Harbors news, CEO Alan S. Mckim sold 25,000 shares of Clean Harbors stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $101.76, for a total transaction of $2,544,000.00. Following the completion of the sale, the chief executive officer now owns 3,237,214 shares of the company’s stock, valued at approximately $329,418,896.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Eric W. Gerstenberg sold 17,963 shares of Clean Harbors stock in a transaction on Friday, August 20th. The stock was sold at an average price of $100.28, for a total transaction of $1,801,329.64. Following the sale, the chief operating officer now directly owns 76,271 shares of the company’s stock, valued at approximately $7,648,455.88. The disclosure for this sale can be found here. In the last three months, insiders sold 54,650 shares of company stock valued at $5,530,472. 7.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CLH. Macquarie Group Ltd. boosted its position in shares of Clean Harbors by 16,894.7% during the second quarter. Macquarie Group Ltd. now owns 687,945 shares of the business services provider’s stock worth $64,075,000 after purchasing an additional 683,897 shares in the last quarter. Federated Hermes Inc. lifted its position in Clean Harbors by 26.3% in the 1st quarter. Federated Hermes Inc. now owns 990,120 shares of the business services provider’s stock valued at $83,229,000 after acquiring an additional 206,309 shares in the last quarter. Millennium Management LLC lifted its position in Clean Harbors by 1,345.9% in the 2nd quarter. Millennium Management LLC now owns 220,770 shares of the business services provider’s stock valued at $20,563,000 after acquiring an additional 205,501 shares in the last quarter. Sandler Capital Management bought a new stake in Clean Harbors in the 1st quarter valued at $16,425,000. Finally, SG Capital Management LLC lifted its position in Clean Harbors by 299.1% in the 2nd quarter. SG Capital Management LLC now owns 185,099 shares of the business services provider’s stock valued at $17,240,000 after acquiring an additional 138,721 shares in the last quarter. 87.65% of the stock is currently owned by institutional investors.

CLH traded up $1.41 during midday trading on Friday, reaching $100.23. 544 shares of the company’s stock were exchanged, compared to its average volume of 269,844. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 29.86 and a beta of 1.75. The company has a quick ratio of 2.06, a current ratio of 2.36 and a debt-to-equity ratio of 1.10. Clean Harbors has a one year low of $52.22 and a one year high of $105.51. The business has a 50-day simple moving average of $97.97 and a two-hundred day simple moving average of $92.73.

About Clean Harbors

Clean Harbors, Inc engages in the provision of environmental, energy, and industrial services. It operates through the Environmental Services and Safety-Kleen business segments. The Environmental Services segment consists of the technical services; industrial services; field services; and oil, gas, and lodging businesses.

See Also: What is the operating income formula?

Get a free copy of the Zacks research report on Clean Harbors (CLH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Clean Harbors (NYSE:CLH)

Receive News & Ratings for Clean Harbors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clean Harbors and related companies with MarketBeat.com's FREE daily email newsletter.