Covanta Holding Corp. (NYSE:CVA) – Equities research analysts at Avondale Partners issued their Q3 2016 earnings estimates for Covanta Holding Corp. in a report issued on Wednesday. Avondale Partners analyst D. Mannes anticipates that the brokerage will post earnings of $0.15 per share for the quarter.
Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Covanta Holding Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 27th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Covanta Holding Corp. in a research report on Friday, September 23rd. Macquarie began coverage on Covanta Holding Corp. in a research report on Thursday, August 25th. They issued a “neutral” rating and a $18.00 target price for the company. Barclays PLC dropped their target price on Covanta Holding Corp. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 9th. Finally, Imperial Capital dropped their target price on Covanta Holding Corp. from $18.50 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Covanta Holding Corp. has a consensus rating of “Buy” and an average price target of $18.00.
Covanta Holding Corp. (NYSE:CVA) traded down 0.167% during trading on Friday, hitting $14.975. 305,760 shares of the stock traded hands. The company has a market cap of $1.93 billion, a P/E ratio of 43.406 and a beta of 0.57. The company’s 50 day moving average price is $15.02 and its 200 day moving average price is $15.99. Covanta Holding Corp. has a 12 month low of $12.48 and a 12 month high of $18.17.
Covanta Holding Corp. (NYSE:CVA) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.17. Covanta Holding Corp. had a net margin of 2.69% and a negative return on equity of 3.48%. The company had revenue of $418 million for the quarter, compared to analyst estimates of $410.38 million. During the same quarter last year, the company earned ($0.06) EPS. The business’s revenue was up 2.5% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Monday, October 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.67%. The ex-dividend date of this dividend was Thursday, September 29th. Covanta Holding Corp.’s payout ratio is 322.58%.
In related news, Director Ronald J. Broglio sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $15.78, for a total transaction of $71,010.00. Following the completion of the sale, the director now owns 4,529 shares in the company, valued at $71,467.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 11.80% of the company’s stock.
A number of large investors have recently bought and sold shares of CVA. IFP Advisors Inc boosted its stake in Covanta Holding Corp. by 54.5% in the second quarter. IFP Advisors Inc now owns 6,521 shares of the company’s stock valued at $107,000 after buying an additional 2,301 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Covanta Holding Corp. by 56.8% in the second quarter. Sei Investments Co. now owns 8,617 shares of the company’s stock worth $142,000 after buying an additional 3,120 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Covanta Holding Corp. by 2.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 8,763 shares of the company’s stock worth $144,000 after buying an additional 185 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Covanta Holding Corp. by 13.6% in the second quarter. JPMorgan Chase & Co. now owns 8,806 shares of the company’s stock worth $145,000 after buying an additional 1,054 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of Covanta Holding Corp. by 5.5% in the second quarter. Glenmede Trust Co. NA now owns 9,507 shares of the company’s stock worth $156,000 after buying an additional 496 shares in the last quarter. Hedge funds and other institutional investors own 80.14% of the company’s stock.
Covanta Holding Corp. 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. It 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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