Caesarstone (NASDAQ:CSTE) Releases Earnings Results

Caesarstone (NASDAQ:CSTE) issued its earnings results on Wednesday. The construction company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.11), Zacks reports. The business had revenue of $102.11 million for the quarter, compared to analyst estimates of $97.60 million. Caesarstone had a negative return on equity of 16.14% and a negative net margin of 14.77%.

Caesarstone Trading Up 5.9%

Shares of CSTE traded up $0.06 on Thursday, reaching $1.05. The company’s stock had a trading volume of 79,841 shares, compared to its average volume of 100,598. The stock has a market capitalization of $36.24 million, a PE ratio of -0.63 and a beta of 0.20. Caesarstone has a twelve month low of $0.94 and a twelve month high of $5.04. The firm has a fifty day moving average of $1.37 and a 200-day moving average of $1.69.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Caesarstone in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Caesarstone has a consensus rating of “Sell”.

Institutional Investors Weigh In On Caesarstone

Several institutional investors have recently added to or reduced their stakes in the business. Pitcairn Co. bought a new stake in shares of Caesarstone during the second quarter valued at about $31,000. Qube Research & Technologies Ltd purchased a new stake in Caesarstone during the second quarter valued at about $56,000. Finally, Jane Street Group LLC bought a new stake in Caesarstone during the second quarter worth about $263,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.