Equities analysts expect Covanta Holding Corp (NYSE:CVA) to report earnings of ($0.13) per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Covanta’s earnings, with the highest EPS estimate coming in at ($0.03) and the lowest estimate coming in at ($0.19). Covanta reported earnings of ($0.09) per share during the same quarter last year, which would indicate a negative year over year growth rate of 44.4%. The business is scheduled to issue its next quarterly earnings results on Thursday, April 25th.
According to Zacks, analysts expect that Covanta will report full-year earnings of $0.05 per share for the current financial year, with EPS estimates ranging from ($0.06) to $0.10. For the next year, analysts anticipate that the company will report earnings of $0.12 per share, with EPS estimates ranging from $0.03 to $0.21. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow Covanta.
Covanta (NYSE:CVA) last released its earnings results on Thursday, February 14th. The energy company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.05). The firm had revenue of $500.00 million during the quarter, compared to the consensus estimate of $485.25 million. Covanta had a negative return on equity of 2.36% and a net margin of 8.14%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS.
A number of research firms recently weighed in on CVA. Zacks Investment Research downgraded Covanta from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Barclays started coverage on Covanta in a research report on Monday, January 7th. They issued an “equal weight” rating and a $16.00 target price for the company. TheStreet raised Covanta from a “c” rating to a “b-” rating in a research note on Thursday, February 14th. ValuEngine cut Covanta from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Goldman Sachs Group raised Covanta from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $16.50 to $19.00 in a research note on Monday, February 4th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Covanta has an average rating of “Buy” and a consensus target price of $17.00.
NYSE:CVA traded up $0.02 during mid-day trading on Friday, reaching $17.08. The stock had a trading volume of 427,146 shares, compared to its average volume of 816,057. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -170.80, a PEG ratio of 23.68 and a beta of 1.36. Covanta has a one year low of $12.92 and a one year high of $18.05. The company has a debt-to-equity ratio of 5.05, a current ratio of 1.13 and a quick ratio of 1.13.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 29th will be paid a $0.25 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 5.85%. Covanta’s dividend payout ratio (DPR) is currently -1,000.00%.
In related news, EVP Castro Michael Joseph De purchased 10,000 shares of the firm’s stock in a transaction on Friday, December 28th. The shares were acquired at an average cost of $13.36 per share, with a total value of $133,600.00. Following the purchase, the executive vice president now directly owns 78,008 shares of the company’s stock, valued at $1,042,186.88. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Ramsey Quantitative Systems boosted its holdings in Covanta by 7.2% in the fourth quarter. Ramsey Quantitative Systems now owns 21,342 shares of the energy company’s stock worth $286,000 after acquiring an additional 1,436 shares in the last quarter. Advisors Capital Management LLC lifted its holdings in shares of Covanta by 0.7% during the fourth quarter. Advisors Capital Management LLC now owns 216,705 shares of the energy company’s stock valued at $2,908,000 after purchasing an additional 1,594 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Covanta by 4.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 37,503 shares of the energy company’s stock valued at $503,000 after purchasing an additional 1,601 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Covanta by 79.6% during the fourth quarter. IFP Advisors Inc now owns 4,000 shares of the energy company’s stock valued at $53,000 after purchasing an additional 1,773 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. bought a new position in shares of Covanta during the fourth quarter valued at $28,000. 77.50% of the stock is currently owned by hedge funds and other institutional investors.
Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses.
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