Analysts Issue Forecasts for Clean Harbors FY2024 Earnings

Clean Harbors, Inc. (NYSE:CLH) – Investment analysts at Zacks Research dropped their FY2024 EPS estimates for shares of Clean Harbors in a report released on Wednesday, November 20th. Zacks Research analyst S. Goswami now forecasts that the business services provider will post earnings of $7.22 per share for the year, down from their prior estimate 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 equities research analysts have also issued reports about the company. StockNews.com lowered Clean Harbors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. Oppenheimer boosted their price target on shares of Clean Harbors from $252.00 to $270.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Truist Financial upped their price objective on shares of Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC reduced their price objective on Clean Harbors from $274.00 to $268.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price target on shares of Clean Harbors from $223.00 to $256.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $254.33.

Clean Harbors Stock Up 2.6 %

CLH stock opened at $259.18 on Monday. The firm has a market capitalization of $13.97 billion, a PE ratio of 33.75 and a beta of 1.20. The company has a quick ratio of 1.76, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. Clean Harbors has a twelve month low of $158.42 and a twelve month high of $267.11. The stock’s 50 day moving average is $250.15 and its 200-day moving average is $235.60.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Clearbridge Investments LLC increased its stake in shares of Clean Harbors by 30.6% in the second quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock worth $239,361,000 after buying an additional 248,240 shares during the last quarter. Lazard Freres Gestion S.A.S. acquired a new position in Clean Harbors during the 2nd quarter valued at about $42,968,000. FMR LLC boosted its position in shares of Clean Harbors by 12.0% during the third quarter. FMR LLC now owns 1,747,215 shares of the business services provider’s stock worth $422,319,000 after buying an additional 187,140 shares during the period. Wellington Management Group LLP grew its stake in shares of 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 in the last quarter. Finally, Marshall Wace LLP increased its stake in Clean Harbors by 20.3% during the 2nd quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock valued at $121,505,000 after buying an additional 90,756 shares during the period. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Eric W. Gerstenberg sold 6,051 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $250.42, for a total transaction of $1,515,291.42. Following the completion of the sale, the chief executive officer now owns 55,657 shares of the company’s stock, valued at approximately $13,937,625.94. This represents a 9.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren States sold 308 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $249.78, for a total transaction of $76,932.24. Following the completion of the transaction, the director now directly owns 12,842 shares in the company, valued at approximately $3,207,674.76. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,586 shares of company stock valued at $4,351,841. Insiders own 5.90% of the company’s stock.

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.