Brokerages Anticipate Covia Holdings (NASDAQ:CVIA) Will Post Earnings of -$0.40 Per Share

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Brokerages expect Covia Holdings (NASDAQ:CVIA) to post earnings per share of ($0.40) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Covia’s earnings, with the highest EPS estimate coming in at ($0.35) and the lowest estimate coming in at ($0.48). Covia posted earnings per share of ($0.39) during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.6%. The business is scheduled to report its next earnings results on Thursday, March 19th.

According to Zacks, analysts expect that Covia will report full-year earnings of ($1.11) per share for the current financial year, with EPS estimates ranging from ($1.27) to ($0.99). For the next year, analysts anticipate that the company will report earnings of ($1.06) per share, with EPS estimates ranging from ($1.49) to ($0.85). Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Covia.

Covia (NASDAQ:CVIA) last posted its earnings results on Wednesday, November 6th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). The business had revenue of $408.96 million for the quarter, compared to analyst estimates of $445.41 million. During the same period in the previous year, the business posted ($2.20) earnings per share. The company’s revenue for the quarter was down 21.9% compared to the same quarter last year.

A number of equities research analysts have commented on the stock. Zacks Investment Research raised shares of Covia from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Barclays raised shares of Covia from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $2.00 to $3.00 in a research report on Tuesday, August 13th. Finally, Morgan Stanley cut their target price on shares of Covia from $2.50 to $2.00 and set an “underweight” rating for the company in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Covia has an average rating of “Hold” and a consensus target price of $4.50.

In other Covia news, CFO Andrew Eich acquired 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $1.51 per share, with a total value of $30,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Several hedge funds have recently modified their holdings of CVIA. BlackRock Inc. grew its position in shares of Covia by 28.3% during the 2nd quarter. BlackRock Inc. now owns 2,721,371 shares of the company’s stock valued at $5,332,000 after acquiring an additional 600,107 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Covia during the 2nd quarter valued at $557,000. AlpInvest Partners B.V. bought a new stake in shares of Covia during the 2nd quarter valued at $490,000. Morgan Stanley grew its position in shares of Covia by 273.8% during the 2nd quarter. Morgan Stanley now owns 307,984 shares of the company’s stock valued at $602,000 after acquiring an additional 225,587 shares during the period. Finally, Clearstead Advisors LLC grew its position in shares of Covia by 7.4% during the 2nd quarter. Clearstead Advisors LLC now owns 3,099,701 shares of the company’s stock valued at $6,075,000 after acquiring an additional 212,593 shares during the period.

NASDAQ:CVIA opened at $1.36 on Tuesday. Covia has a 12 month low of $1.28 and a 12 month high of $7.34. The company has a 50 day simple moving average of $1.64 and a two-hundred day simple moving average of $2.15.

About Covia

Covia Holdings Corporation provides minerals and material solutions for the industrial and energy markets. The company offers various mineral solutions to the glass, ceramics, coatings, polymers, construction, water filtration, sports, and recreation markets. It also offers a range of high-purity silica sand, nepheline syenite, feldspar, clay, kaolin, lime, resin systems, and coated materials.

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Earnings History and Estimates for Covia (NASDAQ:CVIA)

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