Covanta Holding Corporation (NYSE:CVA) has earned an average rating of “Hold” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $16.79.
Several equities analysts recently issued reports on CVA shares. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. Stifel Nicolaus upgraded Covanta Holding Corporation from a “hold” rating to a “buy” rating and boosted their price target for the company from $15.50 to $17.00 in a research report on Monday, July 31st. BidaskClub upgraded Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BMO Capital Markets started coverage on Covanta Holding Corporation in a research report on Thursday, June 29th. They issued a “market perform” rating and a $16.00 price target on the stock. Finally, Robert W. Baird upgraded Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 price target on the stock in a research report on Monday, May 15th.
In other Covanta Holding Corporation news, insider Paul E. Stauder sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $14.50, for a total transaction of $36,250.00. Following the transaction, the insider now owns 30,639 shares in the company, valued at approximately $444,265.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CVA. BlackRock Inc. boosted its position in Covanta Holding Corporation by 17,486.2% in the first quarter. BlackRock Inc. now owns 5,904,931 shares of the energy company’s stock valued at $92,706,000 after buying an additional 5,871,354 shares during the last quarter. RidgeWorth Capital Management LLC boosted its position in Covanta Holding Corporation by 42.9% in the first quarter. RidgeWorth Capital Management LLC now owns 4,087,721 shares of the energy company’s stock valued at $65,195,000 after buying an additional 1,226,577 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in Covanta Holding Corporation by 41.7% in the second quarter. Thompson Siegel & Walmsley LLC now owns 3,179,991 shares of the energy company’s stock valued at $41,976,000 after buying an additional 936,309 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Covanta Holding Corporation by 11.9% in the second quarter. Neuberger Berman Group LLC now owns 5,817,457 shares of the energy company’s stock valued at $76,790,000 after buying an additional 616,425 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Covanta Holding Corporation by 125.4% in the first quarter. Bank of America Corp DE now owns 1,017,315 shares of the energy company’s stock valued at $15,971,000 after buying an additional 565,920 shares during the last quarter. Institutional investors own 90.04% of the company’s stock.
Covanta Holding Corporation (CVA) traded down 0.69% during mid-day trading on Friday, reaching $14.40. The company had a trading volume of 921,777 shares. The firm’s 50 day moving average price is $13.76 and its 200-day moving average price is $14.83. Covanta Holding Corporation has a 12 month low of $13.00 and a 12 month high of $16.50. The company’s market capitalization is $1.87 billion.
Covanta Holding Corporation (NYSE:CVA) last issued its quarterly earnings results on Thursday, July 27th. The energy company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The company had revenue of $424 million during the quarter, compared to analyst estimates of $416.18 million. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.22) EPS. Equities research analysts anticipate that Covanta Holding Corporation will post ($0.23) earnings per share for the current year.
About Covanta Holding Corporation
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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