Covanta Holding Corp Price Target Increased to $24.00 by Analysts at Barclays (CVA)
Equities research analysts at Barclays raised their price target on shares of Covanta Holding Corp (NYSE:CVA) from $22.00 to $24.00 in a research note issued to investors on Tuesday. The firm currently has an “overweight” rating on the stock. Barclays’ price target would indicate a potential upside of 24.29% from the company’s current price.
A number of other firms have also recently commented on CVA. Analysts at BB&T Corp. initiated coverage on shares of Covanta Holding Corp in a research note on Wednesday, May 21st. They set a “buy” rating and a $23.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Covanta Holding Corp from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 7th. They now have a $19.90 price target on the stock. Finally, analysts at Wedbush upgraded shares of Covanta Holding Corp from a “neutral” rating to an “outperform” rating in a research note on Monday, May 5th. They now have a $23.00 price target on the stock, up previously from $20.00. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $21.84.
Covanta Holding Corp (NYSE:CVA) traded up 4.04% on Tuesday, hitting $20.09. 6,013,247 shares of the company’s stock traded hands. Covanta Holding Corp has a 1-year low of $16.42 and a 1-year high of $21.89. The stock’s 50-day moving average is $18.73 and its 200-day moving average is $17.92. The company has a market cap of $2.592 billion and a price-to-earnings ratio of 292.58.
Covanta Holding Corp (NYSE:CVA) last announced its earnings results on Tuesday, April 22nd. The company reported ($0.03) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.15) by $0.12. The company had revenue of $401.00 million for the quarter, compared to the consensus estimate of $381.10 million. During the same quarter last year, the company posted ($0.21) earnings per share. Covanta Holding Corp’s revenue was up 7.8% compared to the same quarter last year. Analysts expect that Covanta Holding Corp will post $0.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 2nd. Stockholders of record on Wednesday, June 25th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Monday, June 23rd.
Covanta Holding Corporation (NYSE:CVA) is a holding company.
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