Covanta Holding Corp (NYSE:CVA) – Analysts at Oppenheimer issued their Q2 2018 earnings estimates for Covanta in a research note issued to investors on Monday. Oppenheimer analyst N. Kaye forecasts that the energy company will earn $0.00 per share for the quarter. Oppenheimer has a “Buy” rating and a $19.00 price objective on the stock. Oppenheimer also issued estimates for Covanta’s Q3 2018 earnings at $0.15 EPS and Q4 2018 earnings at $0.14 EPS.
A number of other brokerages have also recently commented on CVA. Zacks Investment Research cut shares of Covanta from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Goldman Sachs Group upgraded shares of Covanta from a “sell” rating to a “neutral” rating and set a $16.00 price target for the company in a research note on Sunday, January 7th. Robert W. Baird reiterated a “buy” rating and issued a $19.00 price target on shares of Covanta in a research note on Wednesday, November 1st. BMO Capital Markets increased their price target on shares of Covanta from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, October 30th. Finally, ValuEngine cut shares of Covanta from a “hold” rating to a “sell” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Covanta presently has a consensus rating of “Hold” and an average price target of $18.00.
Covanta (NYSE:CVA) last announced its quarterly earnings results on Thursday, February 22nd. The energy company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.11). The firm had revenue of $495.00 million during the quarter, compared to analyst estimates of $462.71 million. Covanta had a net margin of 3.25% and a negative return on equity of 13.62%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB acquired a new stake in shares of Covanta during the 4th quarter worth about $214,000. MetLife Investment Advisors LLC acquired a new stake in shares of Covanta during the 4th quarter worth about $933,000. Vident Investment Advisory LLC acquired a new stake in shares of Covanta during the 4th quarter worth about $229,000. Verition Fund Management LLC acquired a new stake in shares of Covanta during the 4th quarter worth about $207,000. Finally, LPL Financial LLC acquired a new stake in shares of Covanta during the 4th quarter worth about $839,000. Institutional investors own 93.72% 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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