Equities analysts forecast that Caesarstone Ltd (NASDAQ:CSTE) will announce earnings of $0.19 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Caesarstone’s earnings. Caesarstone posted earnings of $0.43 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 55.8%. The company is scheduled to report its next earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Caesarstone will report full-year earnings of $0.95 per share for the current fiscal year. For the next financial year, analysts forecast that the company will post earnings of $1.24 per share. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Caesarstone.

Caesarstone (NASDAQ:CSTE) last issued its earnings results on Wednesday, May 1st. The construction company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.09. The business had revenue of $128.00 million for the quarter, compared to analyst estimates of $132.66 million. Caesarstone had a return on equity of 4.78% and a net margin of 3.96%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS.

Several research analysts recently weighed in on CSTE shares. ValuEngine raised Caesarstone from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. BidaskClub raised Caesarstone from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Zacks Investment Research raised Caesarstone from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Friday, January 18th.

Shares of CSTE traded down $0.51 during trading hours on Thursday, hitting $14.92. The stock had a trading volume of 113,708 shares, compared to its average volume of 127,080. The company has a current ratio of 3.20, a quick ratio of 1.80 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $512.70 million, a P/E ratio of 20.72 and a beta of 1.67. Caesarstone has a 12-month low of $12.49 and a 12-month high of $21.80.

A number of hedge funds and other institutional investors have recently made changes to their positions in CSTE. BlackRock Inc. increased its holdings in Caesarstone by 2.4% in the 3rd quarter. BlackRock Inc. now owns 1,674,740 shares of the construction company’s stock worth $31,067,000 after buying an additional 39,538 shares in the last quarter. Morgan Stanley grew its stake in shares of Caesarstone by 5.1% during the 3rd quarter. Morgan Stanley now owns 76,747 shares of the construction company’s stock valued at $1,424,000 after purchasing an additional 3,744 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of Caesarstone during the 3rd quarter valued at about $214,000. Cardinal Capital Management grew its stake in shares of Caesarstone by 2.2% during the 4th quarter. Cardinal Capital Management now owns 50,963 shares of the construction company’s stock valued at $692,000 after purchasing an additional 1,082 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Caesarstone by 21.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 8,960 shares of the construction company’s stock valued at $122,000 after purchasing an additional 1,600 shares during the period. Hedge funds and other institutional investors own 49.12% of the company’s stock.

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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