Caesarstone (NASDAQ:CSTE) Issues Earnings Results

Caesarstone (NASDAQ:CSTE) released its quarterly earnings results on Wednesday. The construction company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.12), RTT News reports. The business had revenue of $97.86 million for the quarter, compared to the consensus estimate of $99.40 million. Caesarstone had a negative net margin of 14.56% and a negative return on equity of 9.61%. During the same period in the previous year, the business posted ($0.28) EPS.

Caesarstone Stock Down 0.4 %

CSTE stock traded down $0.02 during midday trading on Thursday, reaching $3.41. 18,102 shares of the company’s stock traded hands, compared to its average volume of 33,889. Caesarstone has a 52 week low of $3.40 and a 52 week high of $6.81. The company has a market cap of $117.58 million, a price-to-earnings ratio of -1.69 and a beta of 0.17. The firm’s fifty day moving average price is $4.16 and its 200-day moving average price is $4.38.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Caesarstone in a research note on Monday. They issued a “hold” rating on the stock.

Caesarstone Company Profile

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.