Caesarstone (NASDAQ:CSTE) Posts Quarterly Earnings Results, Misses Expectations By $0.12 EPS

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

Caesarstone Stock Down 2.0 %

CSTE stock traded down $0.07 during trading on Thursday, hitting $3.35. The company had a trading volume of 36,260 shares, compared to its average volume of 34,141. The stock has a market cap of $115.68 million, a price-to-earnings ratio of -1.67 and a beta of 0.17. The firm has a 50-day moving average price of $4.16 and a 200-day moving average price of $4.38. Caesarstone has a 12 month low of $3.34 and a 12 month high of $6.81.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Caesarstone in a report on Monday. They set 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.