Brokerages expect Caesarstone Ltd (NASDAQ:CSTE) to post $146.65 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Caesarstone’s earnings. The highest sales estimate is $147.12 million and the lowest is $146.17 million. Caesarstone reported sales of $147.69 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.7%. The business is expected to report its next quarterly earnings report on Wednesday, November 6th.

On average, analysts expect that Caesarstone will report full year sales of $558.48 million for the current year, with estimates ranging from $558.38 million to $558.58 million. For the next financial year, analysts anticipate that the company will post sales of $581.86 million, with estimates ranging from $581.38 million to $582.34 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Caesarstone.

Caesarstone (NASDAQ:CSTE) last posted its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.05. Caesarstone had a return on equity of 3.80% and a net margin of 3.20%. The company had revenue of $141.07 million for the quarter, compared to the consensus estimate of $147.02 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year.

A number of research firms have recently commented on CSTE. BidaskClub downgraded Caesarstone from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine raised Caesarstone from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Stifel Nicolaus raised Caesarstone from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $17.00 to $19.00 in a research note on Thursday, August 8th. Finally, Zacks Investment Research lowered Caesarstone from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $16.33.

Several hedge funds have recently modified their holdings of CSTE. Menora Mivtachim Holdings LTD. purchased a new position in shares of Caesarstone during the first quarter valued at $10,861,000. Global Alpha Capital Management Ltd. grew its holdings in shares of Caesarstone by 59.5% during the second quarter. Global Alpha Capital Management Ltd. now owns 889,037 shares of the construction company’s stock valued at $13,362,000 after buying an additional 331,724 shares in the last quarter. Norges Bank purchased a new position in shares of Caesarstone during the fourth quarter valued at $3,974,000. Morgan Stanley grew its holdings in shares of Caesarstone by 161.3% during the second quarter. Morgan Stanley now owns 241,024 shares of the construction company’s stock valued at $3,623,000 after buying an additional 148,792 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in shares of Caesarstone during the second quarter valued at $2,154,000. Institutional investors and hedge funds own 47.00% of the company’s stock.

Shares of CSTE traded up $0.01 during midday trading on Friday, reaching $15.35. The stock had a trading volume of 56,723 shares, compared to its average volume of 118,937. Caesarstone has a 52 week low of $12.49 and a 52 week high of $21.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.24 and a quick ratio of 1.98. The firm’s 50 day moving average price is $15.04 and its 200-day moving average price is $15.35. The company has a market capitalization of $529.54 million, a P/E ratio of 21.39 and a beta of 1.60.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.

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