FY2024 EPS Estimates for Clean Harbors Lowered by Analyst

Clean Harbors, Inc. (NYSE:CLH) – Analysts at Zacks Research reduced their FY2024 earnings per share estimates for Clean Harbors in a report released on Wednesday, November 20th. Zacks Research analyst S. Goswami now expects that the business services provider will earn $7.22 per share for the year, down from their prior forecast of $7.65. The consensus estimate for Clean Harbors’ current full-year earnings is $7.21 per share. Zacks Research also issued estimates for Clean Harbors’ Q4 2024 earnings at $1.35 EPS, Q1 2025 earnings at $1.36 EPS, Q4 2025 earnings at $1.73 EPS, FY2025 earnings at $7.89 EPS and Q1 2026 earnings at $2.06 EPS.

Other analysts also recently issued reports about the company. Oppenheimer increased their price target on Clean Harbors from $252.00 to $270.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Robert W. Baird decreased their price target on Clean Harbors from $300.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus restated a “buy” rating and issued a $275.00 target price (up from $240.00) on shares of Clean Harbors in a research note on Thursday, August 1st. The Goldman Sachs Group raised their target price on Clean Harbors from $223.00 to $256.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, StockNews.com downgraded Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $254.33.

Clean Harbors Stock Performance

Shares of Clean Harbors stock opened at $259.99 on Monday. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.10. The business has a 50-day moving average price of $250.15 and a two-hundred day moving average price of $235.60. Clean Harbors has a 1-year low of $158.42 and a 1-year high of $267.11. The company has a market cap of $14.01 billion, a P/E ratio of 33.85 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.03). Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the business posted $1.68 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Clearbridge Investments LLC grew its position in shares of Clean Harbors by 30.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock valued at $239,361,000 after purchasing an additional 248,240 shares in the last quarter. Lazard Freres Gestion S.A.S. bought a new stake in shares of Clean Harbors during the 2nd quarter worth $42,968,000. FMR LLC lifted its stake in Clean Harbors by 12.0% in the third quarter. FMR LLC now owns 1,747,215 shares of the business services provider’s stock worth $422,319,000 after purchasing an additional 187,140 shares during the last quarter. Wellington Management Group LLP lifted its stake in Clean Harbors by 3.0% in the third quarter. Wellington Management Group LLP now owns 3,451,751 shares of the business services provider’s stock worth $834,323,000 after purchasing an additional 100,394 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Clean Harbors by 20.3% in the second quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock worth $121,505,000 after purchasing an additional 90,756 shares during the last quarter. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Michael Louis Battles sold 10,000 shares of Clean Harbors stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $245.74, for a total value of $2,457,400.00. Following the completion of the transaction, the chief executive officer now directly owns 77,136 shares in the company, valued at approximately $18,955,400.64. The trade was a 11.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren States sold 308 shares of Clean Harbors stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $260.74, for a total transaction of $80,307.92. Following the completion of the transaction, the director now owns 13,150 shares of the company’s stock, valued at $3,428,731. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,586 shares of company stock valued at $4,351,841 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.