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

Caesarstone (NASDAQ:CSTE) released its quarterly earnings data on Wednesday. The construction company reported ($0.35) earnings per share (EPS) 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 firm had revenue of $97.86 million for the quarter, compared to the consensus estimate of $99.40 million. During the same quarter in the prior year, the firm posted ($0.28) earnings per share.

Caesarstone Price Performance

Shares of CSTE traded down $0.07 during mid-day trading on Thursday, reaching $3.35. The company had a trading volume of 36,260 shares, compared to its average volume of 34,141. The company has a market capitalization of $115.68 million, a P/E ratio of -1.67 and a beta of 0.17. Caesarstone has a twelve month low of $3.34 and a twelve month high of $6.81. The company’s 50-day moving average is $4.16 and its 200-day moving average is $4.38.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Caesarstone in a research note on Monday. They issued a “hold” rating for the company.

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.