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

Casella Waste Systems (NASDAQ:CWST) issued its earnings results on Wednesday. The industrial products company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01), Briefing.com reports. The business had revenue of $411.63 million for the quarter, compared to the consensus estimate of $412.59 million. Casella Waste Systems had a net margin of 0.46% and a return on equity of 3.42%. The business’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS. Casella Waste Systems updated its FY 2024 guidance to EPS.

Casella Waste Systems Stock Performance

Casella Waste Systems stock traded up $1.74 during trading hours on Friday, hitting $99.62. The company had a trading volume of 53,339 shares, compared to its average volume of 313,564. The firm has a market cap of $5.79 billion, a PE ratio of 815.67, a PEG ratio of 8.07 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.51. Casella Waste Systems has a one year low of $74.00 and a one year high of $109.08. The firm has a 50-day moving average of $102.76 and a 200 day moving average of $100.47.

Analyst Upgrades and Downgrades

Several analysts have commented on CWST shares. Stifel Nicolaus reiterated a “buy” rating and set a $117.00 target price (up previously from $110.00) on shares of Casella Waste Systems in a research report on Monday, August 5th. William Blair started coverage on shares of Casella Waste Systems in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Finally, Raymond James increased their target price on Casella Waste Systems from $121.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and an average target price of $111.25.

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.