Clean Harbors Inc (NYSE:CLH) – Equities researchers at Oppenheimer dropped their Q2 2019 earnings per share estimates for Clean Harbors in a report released on Wednesday, May 1st. Oppenheimer analyst N. Kaye now forecasts that the business services provider will post earnings per share of $0.63 for the quarter, down from their prior estimate of $0.64. Oppenheimer also issued estimates for Clean Harbors’ Q3 2019 earnings at $0.71 EPS and FY2020 earnings at $1.91 EPS.
Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, May 1st. The business services provider reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The business had revenue of $780.80 million for the quarter, compared to analyst estimates of $792.78 million. Clean Harbors had a net margin of 2.38% and a return on equity of 7.01%. Clean Harbors’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) earnings per share.
Several other research analysts have also issued reports on CLH. UBS Group increased their target price on shares of Clean Harbors from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. TheStreet raised shares of Clean Harbors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 12th. Finally, BMO Capital Markets increased their target price on shares of Clean Harbors from $60.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, February 28th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $75.40.
NYSE CLH traded up $0.46 on Friday, hitting $71.83. 525,145 shares of the company were exchanged, compared to its average volume of 468,667. The firm has a market cap of $4.01 billion, a PE ratio of 57.01 and a beta of 1.56. Clean Harbors has a 12 month low of $46.21 and a 12 month high of $77.24. The company has a quick ratio of 1.66, a current ratio of 1.92 and a debt-to-equity ratio of 1.33.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System raised its holdings in Clean Harbors by 0.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 71,637 shares of the business services provider’s stock worth $5,124,000 after buying an additional 480 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Clean Harbors by 46.6% during the first quarter. Victory Capital Management Inc. now owns 1,582,534 shares of the business services provider’s stock worth $113,198,000 after buying an additional 502,754 shares during the last quarter. Marathon Asset Management LLP raised its holdings in Clean Harbors by 3.2% during the first quarter. Marathon Asset Management LLP now owns 545,615 shares of the business services provider’s stock worth $39,028,000 after buying an additional 16,702 shares during the last quarter. Texas Permanent School Fund raised its holdings in Clean Harbors by 3.5% during the first quarter. Texas Permanent School Fund now owns 34,511 shares of the business services provider’s stock worth $2,469,000 after buying an additional 1,160 shares during the last quarter. Finally, Sigma Planning Corp acquired a new position in Clean Harbors during the first quarter worth $227,000. Hedge funds and other institutional investors own 93.53% of the company’s stock.
In other Clean Harbors news, EVP Brian P. Weber sold 1,777 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $71.00, for a total transaction of $126,167.00. Following the transaction, the executive vice president now owns 57,311 shares in the company, valued at $4,069,081. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael Louis Battles sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $69.74, for a total transaction of $278,960.00. Following the transaction, the chief financial officer now owns 47,007 shares in the company, valued at approximately $3,278,268.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,777 shares of company stock worth $1,156,877. Corporate insiders own 8.70% of the company’s stock.
About Clean Harbors
Clean Harbors, Inc provides environmental, energy, and industrial services in North America. The company operates through two segments, Environmental Services and Safety-Kleen. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste that include resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and CleanPack, a service to collect, identify, categorize, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous wastes.
Featured Article: Why are percentage decliners important?