Caesarstone (NASDAQ:CSTE) Issues Earnings Results

Caesarstone (NASDAQ:CSTE) announced its quarterly earnings data on Wednesday. The construction company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.12), RTT News reports. The company had revenue of $97.86 million during the quarter, compared to analyst estimates of $99.40 million. Caesarstone had a negative net margin of 14.56% and a negative return on equity of 9.61%. During the same period in the prior year, the firm earned ($0.28) earnings per share.

Caesarstone Stock Performance

Shares of Caesarstone stock traded down $0.02 during trading on Thursday, reaching $3.41. 18,102 shares of the company’s stock were exchanged, compared to its average volume of 33,889. Caesarstone has a 1-year low of $3.40 and a 1-year high of $6.81. The firm’s 50-day moving average price is $4.16 and its 200 day moving average price is $4.38. The company has a market cap of $117.58 million, a P/E ratio of -1.69 and a beta of 0.17.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Caesarstone in a research note on Monday. They issued a “hold” rating for the company.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.