$465.68 Million in Sales Expected for Covanta Holding Corp (CVA) This Quarter

Brokerages expect Covanta Holding Corp (NYSE:CVA) to post sales of $465.68 million for the current quarter, according to Zacks. Four analysts have issued estimates for Covanta’s earnings. The lowest sales estimate is $456.10 million and the highest is $489.60 million. Covanta posted sales of $457.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.9%. The company is scheduled to issue its next earnings report on Wednesday, February 21st.

According to Zacks, analysts expect that Covanta will report full-year sales of $465.68 million for the current financial year, with estimates ranging from $1.71 billion to $1.75 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.82 billion per share, with estimates ranging from $1.78 billion to $1.85 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Covanta.

Covanta (NYSE:CVA) last released its quarterly earnings results on Thursday, October 26th. The energy company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. The company had revenue of $429.00 million for the quarter, compared to analysts’ expectations of $421.87 million. Covanta had a negative return on equity of 12.66% and a negative net margin of 3.68%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share.

A number of equities research analysts have recently weighed in on the company. Goldman Sachs Group raised Covanta from a “sell” rating to a “neutral” rating and set a $16.00 price target on the stock in a report on Sunday, January 7th. Zacks Investment Research cut Covanta from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Oppenheimer reissued a “buy” rating and set a $19.00 target price on shares of Covanta in a report on Tuesday, December 19th. Robert W. Baird reissued a “buy” rating and set a $19.00 target price on shares of Covanta in a report on Wednesday, November 1st. Finally, BMO Capital Markets boosted their target price on Covanta from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, October 30th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.00.

Shares of Covanta (NYSE CVA) opened at $17.00 on Friday. The firm has a market capitalization of $2,230.00, a P/E ratio of -33.33, a PEG ratio of 16.64 and a beta of 0.76. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 8.39. Covanta has a twelve month low of $13.00 and a twelve month high of $17.30.

The company also recently announced a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 29th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.00 annualized dividend and a yield of 5.88%. Covanta’s payout ratio is -196.08%.

Institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new position in Covanta in the second quarter worth approximately $107,000. Fox Run Management L.L.C. acquired a new position in Covanta in the fourth quarter worth approximately $178,000. First Allied Advisory Services Inc. acquired a new position in Covanta in the third quarter worth approximately $161,000. ProShare Advisors LLC acquired a new position in Covanta in the second quarter worth approximately $147,000. Finally, Verition Fund Management LLC grew its position in Covanta 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 during the last quarter. Hedge funds and other institutional investors own 94.77% of the company’s stock.

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Covanta 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 (NYSE:CVA)

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