Wall Street brokerages expect that Caesarstone Ltd. (NASDAQ:CSTE) will report sales of $145.17 million for the current quarter, Zacks reports. Two analysts have made estimates for Caesarstone’s earnings, with the highest sales estimate coming in at $145.95 million and the lowest estimate coming in at $144.38 million. Caesarstone reported sales of $134.98 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.5%. The company is expected to report its next earnings results on Wednesday, February 14th.
On average, analysts expect that Caesarstone will report full year sales of $145.17 million for the current year, with estimates ranging from $584.39 million to $585.96 million. For the next financial year, analysts forecast that the company will report sales of $624.53 million per share, with estimates ranging from $615.58 million to $633.47 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Caesarstone.
Several research firms recently commented on CSTE. Stifel Nicolaus restated a “buy” rating and issued a $47.00 target price on shares of Caesarstone in a research report on Thursday, August 3rd. BidaskClub lowered Caesarstone from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research upgraded Caesarstone from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, October 4th. J P Morgan Chase & Co lowered Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 price target on the stock. in a research note on Thursday, November 2nd. Finally, Chardan Capital reaffirmed a “neutral” rating and set a $32.00 price objective (down from $43.00) on shares of Caesarstone in a report on Tuesday, November 7th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Caesarstone presently has a consensus rating of “Hold” and an average price target of $35.00.
Caesarstone (NASDAQ:CSTE) traded up $0.30 during midday trading on Friday, reaching $24.55. The company had a trading volume of 407,200 shares, compared to its average volume of 215,583. Caesarstone has a 1 year low of $23.10 and a 1 year high of $44.00. The stock has a market capitalization of $832.72, a P/E ratio of 17.83 and a beta of 2.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.31 and a quick ratio of 2.20.
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A number of institutional investors have recently added to or reduced their stakes in CSTE. Penserra Capital Management LLC increased its holdings in shares of Caesarstone by 13.0% during the second quarter. Penserra Capital Management LLC now owns 3,328 shares of the construction company’s stock worth $116,000 after purchasing an additional 384 shares during the period. SG Americas Securities LLC increased its stake in Caesarstone by 63.5% during the 2nd quarter. SG Americas Securities LLC now owns 4,577 shares of the construction company’s stock valued at $160,000 after purchasing an additional 1,778 shares in the last quarter. Sensato Investors LLC bought a new stake in Caesarstone during the 2nd quarter valued at about $207,000. HighTower Advisors LLC bought a new stake in Caesarstone during the 1st quarter valued at about $214,000. Finally, Trexquant Investment LP bought a new stake in shares of Caesarstone in the second quarter worth approximately $219,000. 52.64% of the stock is currently owned by hedge funds and other institutional investors.
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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