Covanta Holding Corporation (NYSE:CVA) announced a quarterly dividend on Thursday, September 14th, RTT News reports. Investors of record on Thursday, September 28th will be given a dividend of 0.25 per share by the energy company on Friday, October 6th. This represents a $1.00 dividend on an annualized basis and a yield of 6.88%.

Covanta Holding Corporation has raised its dividend by an average of 26.4% annually over the last three years. Covanta Holding Corporation has a dividend payout ratio of -357.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Covanta Holding Corporation to earn $0.09 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 1,111.1%.

Covanta Holding Corporation (NYSE:CVA) traded down 0.514% during mid-day trading on Thursday, reaching $14.525. 653,620 shares of the company were exchanged. The stock has a 50-day moving average price of $14.17 and a 200 day moving average price of $14.49. The company’s market capitalization is $1.89 billion. Covanta Holding Corporation has a one year low of $13.00 and a one year high of $16.50.

Covanta Holding Corporation (NYSE:CVA) last released 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 $424.00 million for the quarter, compared to analyst estimates of $416.18 million. Covanta Holding Corporation had a negative return on equity of 9.81% and a negative net margin of 1.41%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm posted ($0.22) EPS. Analysts predict that Covanta Holding Corporation will post ($0.23) EPS for the current year.

A number of research firms have weighed in on CVA. Stifel Nicolaus reissued a “buy” rating and set a $17.00 price objective on shares of Covanta Holding Corporation in a research note on Tuesday, September 5th. Robert W. Baird reaffirmed a “buy” rating and issued a $17.00 price target on shares of Covanta Holding Corporation in a research note on Friday, September 1st. BidaskClub lowered Covanta Holding Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. BMO Capital Markets raised Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and upped their price target for the company from $16.00 to $17.00 in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Covanta Holding Corporation in a research note on Monday, July 17th. Three research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Covanta Holding Corporation currently has an average rating of “Hold” and an average price target of $17.19.

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Covanta Holding Corporation Company Profile

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.

Dividend History for Covanta Holding Corporation (NYSE:CVA)

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