Equities research analysts predict that Covanta Holding Corporation (NYSE:CVA) will report $418.75 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Covanta Holding Corporation’s earnings. The lowest sales estimate is $405.00 million and the highest is $433.00 million. Covanta Holding Corporation reported sales of $421.00 million in the same quarter last year, which indicates a negative year over year growth rate of 0.5%. The company is expected to issue its next quarterly earnings report on Tuesday, October 24th.

According to Zacks, analysts expect that Covanta Holding Corporation will report full year sales of $418.75 million for the current fiscal year, with estimates ranging from $1.70 billion to $1.74 billion. For the next financial year, analysts expect that the firm will report sales of $1.81 billion per share, with estimates ranging from $1.77 billion to $1.84 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Covanta Holding Corporation.

Covanta Holding Corporation (NYSE:CVA) last issued its quarterly earnings data on Thursday, July 27th. The energy company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.04. The company had revenue of $424 million for the quarter, compared to the consensus estimate of $416.18 million. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.22) EPS.

Several analysts have commented on the stock. Stifel Nicolaus upgraded shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $15.50 to $17.00 in a research note on Monday, July 31st. BMO Capital Markets upgraded shares of Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $16.00 to $17.00 in a research note on Monday, July 31st. BidaskClub upgraded shares of Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Robert W. Baird upgraded shares of Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 price objective for the company in a research note on Monday, May 15th. Finally, Barclays PLC upgraded shares of Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $16.00 to $15.00 in a research note on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Covanta Holding Corporation currently has an average rating of “Hold” and a consensus price target of $17.28.

Shares of Covanta Holding Corporation (NYSE CVA) traded up 0.36% on Friday, reaching $13.75. 683,315 shares of the company were exchanged. The stock’s market capitalization is $1.79 billion. The firm’s 50 day moving average price is $13.81 and its 200 day moving average price is $14.72. Covanta Holding Corporation has a 52 week low of $13.00 and a 52 week high of $16.50.

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In related news, insider Paul E. Stauder sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $14.50, for a total value of $36,250.00. Following the completion of the sale, the insider now owns 30,639 shares of the company’s stock, valued at approximately $444,265.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.60% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in Covanta Holding Corporation during the second quarter worth about $107,000. IFP Advisors Inc raised its stake in Covanta Holding Corporation by 42.1% in the second quarter. IFP Advisors Inc now owns 8,927 shares of the energy company’s stock worth $118,000 after buying an additional 2,647 shares during the last quarter. Connable Office Inc. acquired a new stake in Covanta Holding Corporation during the second quarter worth about $133,000. ProShare Advisors LLC acquired a new stake in Covanta Holding Corporation during the second quarter worth about $147,000. Finally, PNC Financial Services Group Inc. raised its stake in Covanta Holding Corporation by 15.2% in the first quarter. PNC Financial Services Group Inc. now owns 11,380 shares of the energy company’s stock worth $178,000 after buying an additional 1,500 shares during the last quarter. 90.91% of the stock is owned by institutional investors.

About Covanta Holding Corporation

Covanta Holding Corporation is a holding company. The Company, through its subsidiaries, owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. The Company operates through North America segment, which consists of waste and energy services operations located primarily in the United States and Canada.

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Earnings History and Estimates for Covanta Holding Corporation (NYSE:CVA)

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