FY2024 EPS Estimates for Clean Harbors Cut by Zacks Research

Clean Harbors, Inc. (NYSE:CLH - Free Report) - Zacks Research lowered their FY2024 EPS estimates for shares of Clean Harbors in a report issued on Wednesday, November 20th. Zacks Research analyst S. Goswami now anticipates that the business services provider will post earnings per share of $7.22 for the year, down from their previous forecast of $7.65. The consensus estimate for Clean Harbors' current full-year earnings is $7.21 per share. Zacks Research also issued estimates for Clean Harbors' Q4 2024 earnings at $1.35 EPS, Q1 2025 earnings at $1.36 EPS, Q4 2025 earnings at $1.73 EPS, FY2025 earnings at $7.89 EPS and Q1 2026 earnings at $2.06 EPS.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.03). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. Clean Harbors's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.68 EPS.

Several other equities analysts have also weighed in on CLH. Robert W. Baird reduced their price objective on Clean Harbors from $300.00 to $285.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC reduced their target price on shares of Clean Harbors from $274.00 to $268.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price target on Clean Harbors from $223.00 to $256.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Oppenheimer raised their price objective on shares of Clean Harbors from $252.00 to $270.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. Finally, Stifel Nicolaus reiterated a "buy" rating and issued a $275.00 target price (up previously from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $254.33.

Clean Harbors Trading Up 2.6 %

Clean Harbors stock traded up $6.68 during trading on Monday, reaching $259.18. The company had a trading volume of 376,901 shares, compared to its average volume of 297,181. Clean Harbors has a 12-month low of $158.42 and a 12-month high of $267.11. The stock's 50 day moving average price is $250.15 and its two-hundred day moving average price is $235.60. The firm has a market capitalization of $13.97 billion, a price-to-earnings ratio of 33.75 and a beta of 1.20. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.76 and a current ratio of 2.10.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Clearbridge Investments LLC grew its holdings in shares of Clean Harbors by 30.6% in the 2nd quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider's stock worth $239,361,000 after acquiring an additional 248,240 shares during the last quarter. Lazard Freres Gestion S.A.S. acquired a new position in shares of Clean Harbors in the 2nd quarter valued at $42,968,000. FMR LLC increased its stake in Clean Harbors by 12.0% in the 3rd quarter. FMR LLC now owns 1,747,215 shares of the business services provider's stock worth $422,319,000 after purchasing an additional 187,140 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Clean Harbors by 3.0% during the third quarter. Wellington Management Group LLP now owns 3,451,751 shares of the business services provider's stock valued at $834,323,000 after acquiring an additional 100,394 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Clean Harbors by 20.3% in the 2nd quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider's stock valued at $121,505,000 after acquiring an additional 90,756 shares in the last quarter. Institutional investors own 90.43% of the company's stock.

Insiders Place Their Bets

In related news, insider Robert Speights sold 610 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $240.14, for a total value of $146,485.40. Following the sale, the insider now directly owns 39,160 shares in the company, valued at $9,403,882.40. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren States sold 308 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $249.78, for a total transaction of $76,932.24. Following the sale, the director now directly owns 12,842 shares of the company's stock, valued at approximately $3,207,674.76. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,586 shares of company stock worth $4,351,841 over the last ninety days. Company insiders own 5.90% of the company's stock.

About Clean Harbors

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.