Brokerages expect Covanta Holding Corporation (NYSE:CVA) to post sales of $418.75 million for the current fiscal quarter, Zacks Investment Research reports. 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 posted sales of $421.00 million in the same quarter last year, which suggests a negative year over year growth rate of 0.5%. The firm is expected to issue its next quarterly earnings results on Tuesday, October 24th.

On average, 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 year, analysts anticipate that the company will report sales of $1.80 billion per share, with estimates ranging from $1.77 billion to $1.84 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.04). Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The business had revenue of $424.00 million during the quarter, compared to the consensus estimate of $416.18 million. During the same quarter in the previous year, the firm posted ($0.22) EPS. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year.

Several research analysts recently issued reports on the company. BidaskClub raised Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered Covanta Holding Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $17.00 target price on shares of Covanta Holding Corporation in a research report on Tuesday, September 5th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. Finally, Barclays PLC raised Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $16.00 to $15.00 in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Covanta Holding Corporation presently has an average rating of “Hold” and a consensus price target of $17.19.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Covanta Holding Corporation by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 9,848,006 shares of the energy company’s stock worth $129,993,000 after acquiring an additional 395,239 shares during the period. BlackRock Inc. grew its holdings in Covanta Holding Corporation by 41.6% during the 2nd quarter. BlackRock Inc. now owns 8,360,500 shares of the energy company’s stock worth $110,359,000 after acquiring an additional 2,455,569 shares during the period. Neuberger Berman Group LLC grew its holdings in Covanta Holding Corporation by 11.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,817,457 shares of the energy company’s stock worth $76,790,000 after acquiring an additional 616,425 shares during the period. Thompson Siegel & Walmsley LLC grew its holdings in Covanta Holding Corporation by 41.7% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 3,179,991 shares of the energy company’s stock worth $41,976,000 after acquiring an additional 936,309 shares during the period. Finally, State Street Corp grew its holdings in Covanta Holding Corporation by 46.7% during the 2nd quarter. State Street Corp now owns 2,510,700 shares of the energy company’s stock worth $33,146,000 after acquiring an additional 799,767 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Covanta Holding Corporation (NYSE CVA) opened at 14.40 on Friday. The company’s market cap is $1.87 billion. Covanta Holding Corporation has a 12 month low of $13.00 and a 12 month high of $16.50. The firm has a 50-day moving average price of $14.23 and a 200 day moving average price of $14.43.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Thursday, September 28th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $1.00 dividend on an annualized basis and a yield of 6.94%. Covanta Holding Corporation’s payout ratio is currently -526.29%.

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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.

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

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