Brokers Set Expectations for Casella Waste Systems, Inc.'s FY2024 Earnings (NASDAQ:CWST)

Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) - Investment analysts at William Blair issued their FY2024 EPS estimates for Casella Waste Systems in a research note issued to investors on Thursday, October 3rd. William Blair analyst T. Romeo forecasts that the industrial products company will earn $0.59 per share for the year. William Blair 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.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.06). Casella Waste Systems had a net margin of 1.35% and a return on equity of 3.83%. The company had revenue of $377.20 million for the quarter, compared to analyst estimates of $373.87 million. During the same period in the prior year, the company posted $0.36 EPS. The business's revenue was up 30.2% on a year-over-year basis.

A number of other research analysts have also weighed in on CWST. Stifel Nicolaus reissued 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. Raymond James boosted their price objective on Casella Waste Systems from $121.00 to $122.00 and gave the stock a "strong-buy" rating in a research report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $108.20.

Casella Waste Systems Stock Performance

Shares of NASDAQ:CWST traded down $1.45 during trading on Monday, reaching $97.50. The stock had a trading volume of 283,055 shares, compared to its average volume of 313,143. The stock has a fifty day simple moving average of $103.57 and a two-hundred day simple moving average of $99.84. The company has a quick ratio of 1.51, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. Casella Waste Systems has a 52 week low of $72.97 and a 52 week high of $109.08. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 314.52, a P/E/G ratio of 7.89 and a beta of 0.99.

Institutional Investors Weigh In On Casella Waste Systems

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings 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 acquiring an additional 135 shares in the last quarter. GAMMA Investing LLC lifted 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 acquiring an additional 139 shares during the period. State Board of Administration of Florida Retirement System boosted its position 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 valued at $1,610,000 after acquiring an additional 160 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in Casella Waste Systems by 38.1% in the first quarter. Harbor Investment Advisory LLC now owns 613 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 169 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in Casella Waste Systems by 1.8% in the second 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 in the last quarter. Institutional investors 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.