Caesarstone (NASDAQ:CSTE) Releases Quarterly Earnings Results

Caesarstone (NASDAQ:CSTE) released its earnings results on Wednesday. The construction company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.10), FiscalAI reports. Caesarstone had a negative net margin of 18.44% and a negative return on equity of 19.35%. The business had revenue of $94.44 million for the quarter, compared to the consensus estimate of $93.70 million.

Caesarstone Trading Down 27.6%

Shares of NASDAQ CSTE traded down $0.34 during trading hours on Wednesday, reaching $0.89. The stock had a trading volume of 2,289,381 shares, compared to its average volume of 160,827. Caesarstone has a 52-week low of $0.86 and a 52-week high of $3.70. The firm has a market cap of $30.75 million, a price-to-earnings ratio of -0.44 and a beta of -0.03. The business’s fifty day moving average price is $1.99 and its two-hundred day moving average price is $1.61.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Caesarstone to a “strong sell” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Institutional Investors Weigh In On Caesarstone

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of Caesarstone in the 2nd quarter worth $263,000. Citadel Advisors LLC raised its holdings in shares of Caesarstone by 163.7% in the third quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after acquiring an additional 39,474 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Caesarstone in the second quarter worth about $56,000. Virtu Financial LLC purchased a new stake in Caesarstone in the fourth quarter worth about $30,000. Finally, Pitcairn Co. bought a new position in Caesarstone during the 2nd quarter worth about $31,000. 33.70% of the stock is owned by institutional investors.

Caesarstone Company Profile

Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company’s core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone’s products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.

Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.