Equities analysts expect Covanta Holding Corp (NYSE:CVA) to report earnings per share of $0.07 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Covanta’s earnings, with estimates ranging from $0.05 to $0.10. Covanta posted earnings per share of $0.04 during the same quarter last year, which would indicate a positive year-over-year growth rate of 75%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, February 20th.
On average, analysts expect that Covanta will report full-year earnings of $0.05 per share for the current fiscal year, with EPS estimates ranging from $0.03 to $0.09. For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.11) per share, with EPS estimates ranging from ($0.21) to ($0.06). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Covanta.
A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Covanta in a research note on Wednesday, November 27th. They issued a “hold” rating and a $16.00 price objective for the company. Raymond James cut shares of Covanta from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Barclays restated a “hold” rating and issued a $16.00 price objective on shares of Covanta in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.40.
Large investors have recently modified their holdings of the business. Sandy Spring Bank bought a new stake in Covanta during the 3rd quarter worth about $30,000. Pacitti Group Inc. bought a new stake in Covanta during the 4th quarter worth about $45,000. NumerixS Investment Technologies Inc bought a new stake in Covanta during the 4th quarter worth about $52,000. Penserra Capital Management LLC bought a new stake in Covanta during the 3rd quarter worth about $58,000. Finally, Samalin Investment Counsel LLC bought a new stake in Covanta during the 4th quarter worth about $59,000. 79.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CVA stock opened at $15.75 on Friday. Covanta has a 52-week low of $13.88 and a 52-week high of $18.38. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 393.75 and a beta of 1.22. The company has a debt-to-equity ratio of 6.85, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a fifty day moving average of $15.22 and a 200-day moving average of $15.85.
Covanta Company Profile
Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses.
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