Equities analysts predict that Caesarstone Ltd. (NASDAQ:CSTE) will announce sales of $150.58 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Caesarstone’s earnings. The lowest sales estimate is $150.26 million and the highest is $150.89 million. Caesarstone posted sales of $144.31 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.3%. The business is scheduled to issue its next earnings report on Wednesday, November 1st.
On average, analysts expect that Caesarstone will report full-year sales of $150.58 million for the current year, with estimates ranging from $585.08 million to $586.24 million. For the next year, analysts forecast that the company will post sales of $634.56 million per share, with estimates ranging from $620.10 million to $646.68 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Caesarstone.
Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by $0.14. Caesarstone had a net margin of 11.21% and a return on equity of 14.21%. The company had revenue of $148.90 million for the quarter, compared to analysts’ expectations of $148.35 million. During the same quarter last year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis.
CSTE has been the topic of several recent research reports. Chardan Capital cut Caesarstone from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $39.00 to $43.00 in a report on Thursday, May 11th. Credit Suisse Group initiated coverage on Caesarstone in a report on Thursday, June 22nd. They set a “neutral” rating and a $37.00 target price on the stock. Zacks Investment Research cut Caesarstone from a “hold” rating to a “sell” rating in a report on Monday, May 15th. TheStreet upgraded Caesarstone from a “c” rating to a “b-” rating in a report on Tuesday, April 11th. Finally, BidaskClub cut Caesarstone from a “strong-buy” rating to a “buy” rating in a report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $38.20.
Shares of Caesarstone (NASDAQ CSTE) opened at 29.80 on Wednesday. The stock has a market capitalization of $1.02 billion, a P/E ratio of 17.03 and a beta of 2.08. Caesarstone has a 12 month low of $26.35 and a 12 month high of $44.00. The firm’s 50-day moving average price is $34.77 and its 200-day moving average price is $35.20.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSTE. Bronfman E.L. Rothschild L.P. boosted its position in Caesarstone by 5.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,948 shares of the construction company’s stock worth $143,000 after buying an additional 191 shares in the last quarter. Penserra Capital Management LLC boosted its position in Caesarstone by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,944 shares of the construction company’s stock worth $106,000 after buying an additional 256 shares in the last quarter. Rhumbline Advisers boosted its position in Caesarstone by 1.1% in the second quarter. Rhumbline Advisers now owns 25,918 shares of the construction company’s stock worth $908,000 after buying an additional 279 shares in the last quarter. Analyst IMS Investment Management Services Ltd. boosted its position in Caesarstone by 0.3% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 132,815 shares of the construction company’s stock worth $4,655,000 after buying an additional 441 shares in the last quarter. Finally, American International Group Inc. boosted its position in Caesarstone by 7.1% in the first quarter. American International Group Inc. now owns 14,676 shares of the construction company’s stock worth $532,000 after buying an additional 971 shares in the last quarter. Hedge funds and other institutional investors own 57.48% of the company’s stock.
Caesarstone Company Profile
Caesarstone Ltd., formerly Caesarstone Sdot-Yam Ltd., is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.
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