Covanta Holding Corp. Price Target Cut to $21.00 (CVA)
Analysts at Wedbush lowered their price target on shares of Covanta Holding Corp. (NYSE:CVA) from $23.00 to $21.00 in a research report issued to clients and investors on Friday, AmericanBankingNews.com reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price objective suggests a potential upside of 21.60% from the company’s current price.
A number of other firms have also recently commented on CVA. Analysts at Ascendiant Capital Markets downgraded shares of Covanta Holding Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Friday. Separately, analysts at Barclays cut their price target on shares of Covanta Holding Corp. from $21.00 to $20.00 in a research note to investors on Tuesday. They now have an “equal weight” rating on the stock. Finally, analysts at Stifel Nicolaus initiated coverage on shares of Covanta Holding Corp. in a research note to investors on Thursday, October 17th. They set a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Covanta Holding Corp. currently has a consensus rating of “Hold” and a consensus target price of $22.33.
Shares of Covanta Holding Corp. (NYSE:CVA) traded down 2.54% during mid-day trading on Friday, hitting $17.27. The stock had a trading volume of 8,975,122 shares. Covanta Holding Corp. has a 52-week low of $16.90 and a 52-week high of $21.80. The stock’s 50-day moving average is $21.08 and its 200-day moving average is $20.30. The company has a market cap of $2.228 billion and a price-to-earnings ratio of 51.96.
Covanta Holding Corp. (NYSE:CVA) last announced its earnings results on Thursday, October 24th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.27 by $0.01. The company had revenue of $427.00 million for the quarter, compared to the consensus estimate of $424.94 million. During the same quarter last year, the company posted $0.25 earnings per share. Covanta Holding Corp.’s revenue was up 3.6% compared to the same quarter last year. Analysts expect that Covanta Holding Corp. will post $0.42 EPS for the current fiscal year.
Covanta Holding Corporation (NYSE:CVA) is a holding company.
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