Clean Harbors Inc (CLH) Expected to Announce Quarterly Sales of $836.20 Million

Brokerages forecast that Clean Harbors Inc (NYSE:CLH) will report $836.20 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Clean Harbors’ earnings, with the highest sales estimate coming in at $841.40 million and the lowest estimate coming in at $831.00 million. Clean Harbors posted sales of $752.79 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.1%. The business is expected to issue its next earnings results on Wednesday, August 1st.

On average, analysts expect that Clean Harbors will report full year sales of $3.28 billion for the current fiscal year, with estimates ranging from $3.26 billion to $3.30 billion. For the next year, analysts forecast that the business will report sales of $3.46 billion per share, with estimates ranging from $3.41 billion to $3.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Clean Harbors.

Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, May 2nd. The business services provider reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. Clean Harbors had a return on equity of 1.72% and a net margin of 3.64%. The business had revenue of $749.80 million for the quarter, compared to the consensus estimate of $732.88 million. During the same period last year, the business earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year.

A number of equities research analysts recently weighed in on CLH shares. ValuEngine downgraded Clean Harbors from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. UBS downgraded Clean Harbors from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 1st. Needham & Company LLC reissued a “buy” rating and set a $63.00 target price (down from $66.00) on shares of Clean Harbors in a research report on Thursday, March 1st. Stifel Nicolaus reissued a “buy” rating and set a $65.00 target price (down from $70.00) on shares of Clean Harbors in a research report on Thursday, March 1st. Finally, Oppenheimer downgraded Clean Harbors from a “market perform” rating to an “outperform” rating and set a $62.00 target price on the stock. in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Clean Harbors presently has a consensus rating of “Hold” and a consensus price target of $58.60.

In other Clean Harbors news, insider Alan S. Mckim sold 100,000 shares of Clean Harbors stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $52.11, for a total transaction of $5,211,000.00. Following the sale, the insider now directly owns 3,955,136 shares of the company’s stock, valued at $206,102,136.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alan S. Mckim sold 42,666 shares of Clean Harbors stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $51.45, for a total value of $2,195,165.70. Following the sale, the insider now directly owns 4,056,609 shares in the company, valued at $208,712,533.05. The disclosure for this sale can be found here. Insiders have sold 150,888 shares of company stock worth $7,823,769 over the last ninety days. Company insiders own 8.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC raised its stake in shares of Clean Harbors by 87.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,790,535 shares of the business services provider’s stock valued at $97,047,000 after acquiring an additional 836,475 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Clean Harbors in the first quarter valued at approximately $15,131,000. Renaissance Technologies LLC raised its stake in shares of Clean Harbors by 22.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,197,102 shares of the business services provider’s stock valued at $64,883,000 after acquiring an additional 217,102 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its stake in shares of Clean Harbors by 8.1% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,825,653 shares of the business services provider’s stock valued at $153,150,000 after acquiring an additional 212,118 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Clean Harbors by 1,451.7% in the fourth quarter. Deutsche Bank AG now owns 223,870 shares of the business services provider’s stock valued at $12,130,000 after acquiring an additional 209,443 shares during the last quarter. 93.20% of the stock is currently owned by institutional investors.

CLH stock opened at $52.75 on Tuesday. Clean Harbors has a twelve month low of $44.74 and a twelve month high of $59.86. The stock has a market cap of $2.87 billion, a P/E ratio of 157.70 and a beta of 1.03. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.71 and a current ratio of 2.06.

About Clean Harbors

Clean Harbors, Inc provides environmental, energy, and industrial services in North America. It operates through Technical Services; Industrial and Field Services; Safety-Kleen; and Oil, Gas and Lodging Services segments. The company's Technical Services segment provides a range of hazardous material management services, including the packaging, collection, transportation, treatment, and disposal of hazardous and non-hazardous waste at its incinerator, landfill, wastewater, and other treatment facilities.

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