Covanta Holding Corp. (CVA) Updates FY13 Earnings Guidance
Covanta Holding Corp. (NYSE:CVA) updated its FY13 earnings guidance on Monday. The company provided earnings per share guidance of $0.33-0.43 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.38, Stock Ratings News reports.
Covanta Holding Corp. (NYSE:CVA) traded up 3.44% on Monday, hitting $18.02. The stock had a trading volume of 9,085,989 shares. Covanta Holding Corp. has a 52 week low of $16.70 and a 52 week high of $21.89. The stock’s 50-day moving average is $20.58 and its 200-day moving average is $20.4. The company has a market cap of $2.325 billion and a price-to-earnings ratio of 47.86.
Covanta Holding Corp. (NYSE:CVA) last released its earnings data 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 $0.38 EPS for the current fiscal year.
A number of analysts have recently weighed in on CVA shares. Analysts at Wedbush cut their price target on shares of Covanta Holding Corp. from $23.00 to $21.00 in a research note to investors on Friday, October 25th. They now have a neutral rating on the stock. On a related note, 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, October 25th. Finally, 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, October 22nd. They now have an equal weight rating on the stock. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $22.33.
Covanta Holding Corporation (NYSE:CVA) is a holding company.
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