Casella Waste Hits New 52-Week High On Robust '16 Outlook
Zacks Investment Research | Nov 28, 2016 07:42AM ET
Shares of Casella Waste Systems, Inc. (NASDAQ:CWST) reached a new 52-week high of $12.85 during its trading session on Nov 25. This apex improved upon the last 52-week high of $12.75 on Nov 23.
Casella Waste Systems closed its trading session a tad lower at $12.77, yielding a solid year-to-date return of 113.5%. The trading volume for the session was 0.07 million shares. Earnings estimate revisions for 2016 and 2017 indicate Casella Waste Systems’ potential for further price appreciation.
Growth Drivers
Casella Waste Systems reported better-than-expected results in three of the last four quarters, while lagged estimates in one. In third-quarter 2016, the company’s earnings of 18 cents per share exceeded the Zacks Consensus Estimate of 10 cents by 80%. Positive pricing and cost-reduction efforts were primarily responsible for the rise in operating income in the quarter. The company’s share price has gained roughly 17.7% since the third-quarter results release on Nov 3.
For 2016, Casella Waste Systems increased its adjusted earnings before interest, tax, depreciation and amortization guidance to $116−$118 million range from the earlier projection of $115−$117 million. Also, the company anticipates normalized free cash to come within $22−$25 million range, up from $20−$24 million expected earlier. Revenue is predicted to come within the upper end of the previously provided guidance range of $550−$560 million.
Currently, Casella Waste Systems has an Earnings ESP Filter .
Estimate Revisions Show Potency
Over the last 30 days, the Zacks Consensus Estimate for Casella Waste Systems grew 14.3% to 8 cents per share for 2016 and 29.6% to 35 cents per share for 2017. These estimates represent year-over-year growth of 123% for 2016 and 350.5% for 2017.
CASELLA WASTE Price and Consensus
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