Here's Why You Should Retain Clean Harbors (CLH) Stock Now
Zacks Investment Research | Jul 06, 2021 10:20PM ET
Clean Harbors (NYSE:CLH), Inc. industry it belongs to.
We are impressed with Clean Harbors’ consistent record of boosting shareholders’ value in the form of share repurchases. In 2020, 2019 and 2018, the company had repurchased shares worth $74.8 million, $21.4 million, $45.1 million, respectively. Such moves indicate the company’s commitment to create value for shareholders and underline its confidence in its business. These initiatives instil investors’ confidence and positively impact earnings per share.
The company raised its guidance for the full year 2021. Adjusted EBITDA is now anticipated between $560 million and $600 million compared with the prior guidance of $545-$585 million. Net income is now anticipated between $116 million and $157 million compared with the prior guidance of $105-$146 million. Adjusted free cash flow is now expected between $230 million and $270 million compared with the previous range of $215-$255 million. Net cash from operating activities is now projected between $415 million and $475 million compared with the prior guidance of $400-$460 million.
h3 Primary Concern/h3Clean Harbors has a debt-laden balance sheet. The company’s cash and cash equivalent of $571 million at the end of first-quarter 2021 was well below the total debt level of $1.56 billion, underscoring that it doesn’t have enough cash to meet this debt burden.
h3 Zacks Rank and Stocks to Consider/h3Clean Harbors currently carries a Zacks Rank #3 (Hold).
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