Caesarstone Ltd [NASDAQ: CSTE] stock went on an upward path that rose over 0.49% on Thursday, amounting to a one-week price increase of more than 7.35%. The company report on February 21, 2024 at 7:00 AM that Caesarstone Reports Fourth Quarter and Full Year 2023 Financial Results.
– Fourth Quarter Revenue of $128.5 Million and Full Year Revenue of $565.2 Million — Full Year Cash Flow from Operations of $66.5 Million — Initiated Restructuring Actions During 2023 to Reignite Long-term Growth and Profitability — Expects to Realize Restructuring-Related Cost Savings of Approximately $20.0 Million in Full Year 2024 and $30.0 Million Thereafter Compared to Full Year 2023 -.
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Caesarstone Ltd. (NASDAQ: CSTE), a leading developer and manufacturer of high-quality engineered surfaces, today reported financial results for its fourth quarter and full year ended December 31, 2023.
Over the last 12 months, CSTE stock dropped by -0.49%. The one-year Caesarstone Ltd stock forecast points to a potential upside of 25.64. The average equity rating for CSTE stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $141.27 million, with 34.53 million shares outstanding and 20.50 million shares in the current float. Compared to the average trading volume of 48.86K shares, CSTE stock reached a trading volume of 115138 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Caesarstone Ltd [CSTE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CSTE shares is $5.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CSTE stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stifel have made an estimate for Caesarstone Ltd shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 28, 2021. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on December 29, 2020, representing the official price target for Caesarstone Ltd stock. Previously, the target price had yet another drop from $19 to $12, while Stifel kept a Hold rating on CSTE stock. On August 08, 2019, analysts increased their price target for CSTE shares from 17 to 19.
The Average True Range (ATR) for Caesarstone Ltd is set at 0.18, with the Price to Sales ratio for CSTE stock in the period of the last 12 months amounting to 0.25. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 2.64. Price to Free Cash Flow for CSTE in the course of the last twelve months was 2.65 with Quick ratio for the last quarter at 1.49.
CSTE Stock Performance Analysis:
Caesarstone Ltd [CSTE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.35. With this latest performance, CSTE shares dropped by -7.26% in over the last four-week period, additionally sinking by -1.21% over the last 6 months – not to mention a drop of -0.49% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CSTE stock in for the last two-week period is set at 50.28, with the RSI for the last a single of trading hit 51.70, and the three-weeks RSI is set at 50.07 for Caesarstone Ltd [CSTE]. The present Moving Average for the last 50 days of trading for this stock 4.09, while it was recorded at 4.07 for the last single week of trading, and 4.36 for the last 200 days.
Insight into Caesarstone Ltd Fundamentals:
Caesarstone Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.49 and a Current Ratio set at 2.64.
CSTE Stock EPS
With the latest financial reports released by the company, Caesarstone Ltd posted -0.17/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1,600.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CSTE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Caesarstone Ltd go to 14.60%.
Caesarstone Ltd [CSTE] Institutonal Ownership Details
The top three institutional holders of CSTE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CSTE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CSTE stock with ownership which is approximately 5.8325%.
