Following this sale, States retains ownership of 12,534 shares of the company. The sale was conducted as part of her direct ownership in Clean Harbors (NYSE:CLH), a company known for its hazardous waste management services. InvestingPro data shows the company maintains strong financial health with a GOOD overall rating, supported by solid liquidity ratios and moderate debt levels. Discover more insights about Clean Harbors and 1,400+ other stocks with InvestingPro's comprehensive research reports. InvestingPro data shows the company maintains strong financial health with a GOOD overall rating, supported by solid liquidity ratios and moderate debt levels. Discover more insights about Clean Harbors and 1,400+ other stocks with InvestingPro's comprehensive research reports.
Following this sale, States retains ownership of 12,534 shares of the company. The sale was conducted as part of her direct ownership in Clean Harbors, a company known for its hazardous waste management services.
In other recent news, Clean Harbors has been the subject of analysts' attention, with TD (TSX:TD) Cowen initiating coverage on the stock with a Buy rating and a price target of $325.00, citing its leading role in the hazardous waste sector. Simultaneously, BMO (TSX:BMO) Capital Markets adjusted its price target for the company to $273 from $281, while maintaining an Outperform rating. The company's potential for market position enhancement through mergers and acquisitions, as well as its robust growth and margin expansion prospects, particularly in the Environmental Services (ES) segment, were highlighted.
Recent developments also include Clean Harbors' mixed Q3 2024 results, where the company reported a year-over-year revenue increase of 12% and an adjusted EBITDA rise of nearly $47 million. The ES segment saw a 13% revenue increase and a 15% rise in adjusted EBITDA, while the Safety-Kleen Sustainability Solutions (SKSS) segment, despite a 6% revenue rise, reported an $11 million shortfall against expectations.
Clean Harbors ended Q3 with a cash balance of $595 million and plans to pursue acquisitions and share buybacks. The company also revised its adjusted EBITDA guidance for 2024 to a midpoint of $1.11 billion. Looking ahead, the company anticipates mid-single-digit organic revenue growth and adjusted EBITDA growth in the mid to high single digits for 2025, coinciding with the upcoming launch of the Kimbell incinerator in Nebraska.
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