Covanta Holding Corporation (NYSE:CVA) has earned a consensus recommendation of “Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.64.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Monday, October 9th. Robert W. Baird restated a “buy” rating and issued a $17.00 price objective on shares of Covanta Holding Corporation in a report on Friday, October 6th. Stifel Nicolaus restated a “buy” rating and issued a $17.00 price objective on shares of Covanta Holding Corporation in a report on Tuesday, September 5th. BidaskClub cut shares of Covanta Holding Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, BMO Capital Markets upgraded shares of Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $16.00 to $17.00 in a report on Monday, July 31st.

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Covanta Holding Corporation (CVA) opened at 15.40 on Wednesday. The company’s market cap is $2.00 billion. The company has a 50-day moving average of $14.67 and a 200 day moving average of $14.38. Covanta Holding Corporation has a 12 month low of $13.00 and a 12 month high of $16.50.

Covanta Holding Corporation (NYSE:CVA) last announced 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 business had revenue of $424.00 million during the quarter, compared to analysts’ expectations of $416.18 million. Covanta Holding Corporation had a negative return on equity of 9.81% and a negative net margin of 1.41%. Covanta Holding Corporation’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) EPS. On average, equities analysts forecast that Covanta Holding Corporation will post ($0.25) earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Thursday, September 28th were paid a $0.25 dividend. The ex-dividend date was Wednesday, September 27th. This represents a $1.00 annualized dividend and a dividend yield of 6.49%. Covanta Holding Corporation’s dividend payout ratio is presently -526.29%.

Several hedge funds and other institutional investors have recently modified their holdings of CVA. Quantbot Technologies LP bought a new position in shares of Covanta Holding Corporation in the second quarter worth approximately $107,000. IFP Advisors Inc lifted its stake in shares of 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 in the last quarter. Connable Office Inc. bought a new position in shares of Covanta Holding Corporation in the second quarter worth approximately $133,000. ProShare Advisors LLC bought a new position in shares of Covanta Holding Corporation in the second quarter worth approximately $147,000. Finally, Verition Fund Management LLC lifted its stake in shares of Covanta Holding Corporation by 9.7% in the second quarter. Verition Fund Management LLC now owns 11,779 shares of the energy company’s stock worth $155,000 after buying an additional 1,039 shares in the last quarter. Hedge funds and other institutional investors own 96.25% of the company’s stock.

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.

Analyst Recommendations for Covanta Holding Corporation (NYSE:CVA)

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