Zacks Research Lowers Earnings Estimates for Clean Harbors

Clean Harbors, Inc. (NYSE:CLH) – Equities researchers at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for shares of Clean Harbors in a research note issued to investors on Wednesday, November 20th. Zacks Research analyst S. Goswami now anticipates 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 $7.29 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.

CLH has been the subject of several other research reports. Robert W. Baird lowered their target price on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $275.00 price objective (up previously from $240.00) on shares of Clean Harbors in a research note on Thursday, August 1st. Oppenheimer lifted their target price on Clean Harbors from $252.00 to $270.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. StockNews.com downgraded Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price objective on Clean Harbors from $223.00 to $256.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $254.33.

Clean Harbors Stock Performance

Shares of CLH stock opened at $252.50 on Monday. The stock has a 50-day moving average of $249.86 and a 200-day moving average of $235.27. Clean Harbors has a one year low of $158.42 and a one year high of $267.11. The stock has a market cap of $13.61 billion, a PE ratio of 32.88 and a beta of 1.20. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.10 and a quick ratio of 1.76.

Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.03). Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company posted $1.68 EPS. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CLH. Wellington Management Group LLP lifted its stake in Clean Harbors by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,451,751 shares of the business services provider’s stock valued at $834,323,000 after purchasing an additional 100,394 shares during the last quarter. FMR LLC lifted its stake in shares of Clean Harbors by 12.0% during the 3rd 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 last quarter. Janus Henderson Group PLC boosted its holdings in shares of Clean Harbors by 0.5% during the third quarter. Janus Henderson Group PLC now owns 1,598,915 shares of the business services provider’s stock worth $386,477,000 after acquiring an additional 7,948 shares during the period. State Street Corp boosted its stake in Clean Harbors by 1.5% in the 3rd quarter. State Street Corp now owns 1,510,363 shares of the business services provider’s stock valued at $365,070,000 after purchasing an additional 21,662 shares during the period. Finally, Clearbridge Investments LLC grew 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 valued at $239,361,000 after acquiring an additional 248,240 shares in the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael Louis Battles sold 10,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $245.74, for a total transaction 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 $18,955,400.64. This represents a 11.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Speights sold 610 shares of Clean Harbors stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $240.14, for a total value of $146,485.40. Following the completion of the sale, the insider now directly owns 39,160 shares in the company, valued at approximately $9,403,882.40. This represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,586 shares of company stock worth $4,351,841. 5.90% of the stock is 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.