Advanced Disposal Services Inc (ADSW) Expected to Announce Quarterly Sales of $375.03 Million
Brokerages expect Advanced Disposal Services Inc (NYSE:ADSW) to report sales of $375.03 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Advanced Disposal Services’ earnings, with estimates ranging from $371.00 million to $379.78 million. Advanced Disposal Services posted sales of $352.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.5%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Thursday, February 22nd.
According to Zacks, analysts expect that Advanced Disposal Services will report full year sales of $375.03 million for the current year, with estimates ranging from $1.49 billion to $1.50 billion. For the next year, analysts expect that the business will report sales of $1.57 billion per share, with estimates ranging from $1.56 billion to $1.57 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Advanced Disposal Services.
Several research firms have recently weighed in on ADSW. BidaskClub cut shares of Advanced Disposal Services from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. KeyCorp began coverage on shares of Advanced Disposal Services in a research report on Thursday, November 30th. They set a “sector weight” rating on the stock. Credit Suisse Group lowered their price objective on shares of Advanced Disposal Services from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Zacks Investment Research cut shares of Advanced Disposal Services from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, Stifel Nicolaus upgraded shares of Advanced Disposal Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $26.00 to $28.00 in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $26.38.
In related news, major shareholder Highstar Capital Lp sold 19,998,544 shares of Advanced Disposal Services stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $21.77, for a total value of $435,368,302.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven R. Carn sold 18,666 shares of Advanced Disposal Services stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $23.53, for a total transaction of $439,210.98. Following the completion of the transaction, the insider now owns 139,071 shares in the company, valued at approximately $3,272,340.63. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,054,542 shares of company stock worth $436,687,056. Corporate insiders own 1.20% of the company’s stock.
A number of large investors have recently modified their holdings of ADSW. SG Americas Securities LLC purchased a new position in Advanced Disposal Services in the 3rd quarter worth $119,000. Legal & General Group Plc raised its position in Advanced Disposal Services by 14.1% in the 2nd quarter. Legal & General Group Plc now owns 6,426 shares of the company’s stock worth $146,000 after purchasing an additional 795 shares during the period. Parametric Portfolio Associates LLC purchased a new position in Advanced Disposal Services in the 2nd quarter worth $220,000. Voya Investment Management LLC purchased a new position in Advanced Disposal Services in the 2nd quarter worth $238,000. Finally, Convergence Investment Partners LLC purchased a new position in Advanced Disposal Services in the 3rd quarter worth $349,000. Institutional investors own 96.09% of the company’s stock.
About Advanced Disposal Services
Advanced Disposal Services, Inc is an integrated provider of non-hazardous solid waste collection, transfer, recycling and disposal services operating primarily in secondary markets or under exclusive arrangements. The Company’s segments include South, East, Midwest and Corporate. As of December 31, 2016, the Company had its presence in 16 states across the Midwest, South and East regions of the United States, as well as in the Commonwealth of the Bahamas, served approximately 2.7 million residential customers and over 200,000 commercial and industrial (C&I) customers through its network of 90 collection operations, 72 transfer stations, 21 owned or operated recycling facilities and 39 owned or operated active landfills.
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