Short Interest in Covanta Holding Corp Increases By 39.3% (CVA)
Shares of Covanta Holding Corp (NYSE:CVA) were the recipient of a significant growth in short interest during the month of June. As of June 13th, there was short interest totalling 13,209,841 shares, a growth of 39.3% from the May 30th total of 9,479,933 shares, American Banking & Market News reports. Based on an average daily trading volume, of 1,897,083 shares, the days-to-cover ratio is presently 7.0 days. Approximately 11.6% of the shares of the company are short sold.
A number of research firms have recently commented on CVA. Analysts at Imperial Capital raised their price target on shares of Covanta Holding Corp from $19.00 to $22.00 in a research note on Wednesday, June 11th. They now have an “in-line” rating on the stock. Separately, analysts at Macquarie reiterated an “outperform” rating on shares of Covanta Holding Corp in a research note on Wednesday, June 11th. They now have a $25.00 price target on the stock, up previously from $21.00. Finally, analysts at Credit Suisse raised their price target on shares of Covanta Holding Corp from $19.00 to $22.00 in a research note on Wednesday, June 11th. They now have a “neutral” rating on the stock. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Covanta Holding Corp has an average rating of “Buy” and an average target price of $22.54.
Shares of Covanta Holding Corp (NYSE:CVA) opened at 20.68 on Monday. 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 $19.6 and its 200-day moving average is $18.29. The company has a market cap of $2.668 billion and a P/E ratio of 313.03.
Covanta Holding Corp (NYSE:CVA) last announced its earnings results on Tuesday, April 22nd. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted ($0.21) earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts predict that Covanta Holding Corp will post $0.44 earnings per share for the current fiscal year.
Covanta Holding Corporation (NYSE:CVA) is a holding company.
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