Caesarstone (NASDAQ:CSTE) Downgraded by StockNews.com

StockNews.com downgraded shares of Caesarstone (NASDAQ:CSTEGet Rating) from a buy rating to a hold rating in a research report released on Friday.

Caesarstone Price Performance

Shares of NASDAQ:CSTE opened at $10.03 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.33 and a quick ratio of 1.09. Caesarstone has a one year low of $8.20 and a one year high of $14.43. The firm has a 50 day simple moving average of $9.30 and a 200 day simple moving average of $10.31. The company has a market cap of $345.73 million, a price-to-earnings ratio of 17.91 and a beta of 0.65.

Caesarstone (NASDAQ:CSTEGet Rating) last announced its quarterly earnings results on Wednesday, May 11th. The construction company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Caesarstone had a net margin of 2.98% and a return on equity of 3.37%. The business had revenue of $170.44 million during the quarter, compared to analyst estimates of $176.95 million. During the same quarter last year, the company posted $0.41 earnings per share. Research analysts predict that Caesarstone will post 0.85 earnings per share for the current fiscal year.

Caesarstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 7th. Shareholders of record on Wednesday, August 17th will be given a $0.25 dividend. This is a boost from Caesarstone’s previous quarterly dividend of $0.10. This represents a $1.00 annualized dividend and a yield of 9.97%. The ex-dividend date of this dividend is Tuesday, August 16th. Caesarstone’s dividend payout ratio is 14.29%.

Hedge Funds Weigh In On Caesarstone

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PDT Partners LLC increased its position in shares of Caesarstone by 5.7% during the fourth quarter. PDT Partners LLC now owns 19,389 shares of the construction company’s stock worth $220,000 after buying an additional 1,042 shares during the period. Avestar Capital LLC increased its position in shares of Caesarstone by 10.6% during the second quarter. Avestar Capital LLC now owns 13,000 shares of the construction company’s stock worth $119,000 after buying an additional 1,250 shares during the period. American Trust increased its position in shares of Caesarstone by 15.7% during the first quarter. American Trust now owns 12,251 shares of the construction company’s stock worth $129,000 after buying an additional 1,664 shares during the period. Vanguard Group Inc. increased its position in shares of Caesarstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 107,753 shares of the construction company’s stock worth $1,134,000 after buying an additional 2,068 shares during the period. Finally, Swiss National Bank increased its position in shares of Caesarstone by 6.7% during the first quarter. Swiss National Bank now owns 57,400 shares of the construction company’s stock worth $604,000 after buying an additional 3,600 shares during the period. 50.36% of the stock is currently owned by institutional investors and hedge funds.

About Caesarstone

(Get Rating)

Caesarstone Ltd., together with its subsidiaries, develops, manufactures, and markets engineered quartz and other surfaces under the Caesarstone brand in the United States, Australia, Canada, Latin America, Asia, Israel, Europe, the Middle East, and Africa. The company's engineered quartz slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling construction end markets.

See Also

Receive News & Ratings for Caesarstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caesarstone and related companies with MarketBeat.com's FREE daily email newsletter.