Equities research analysts predict that Covanta Holding Corporation (NYSE:CVA) will post sales of $465.68 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Covanta Holding Corporation’s earnings, with the highest sales estimate coming in at $489.60 million and the lowest estimate coming in at $456.10 million. Covanta Holding Corporation posted sales of $457.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.9%. The firm is expected to report its next quarterly earnings report on Wednesday, February 21st.
On average, analysts expect that Covanta Holding Corporation will report full year sales of $465.68 million for the current fiscal year, with estimates ranging from $1.71 billion to $1.75 billion. For the next year, analysts forecast that the firm will post sales of $1.84 billion per share, with estimates ranging from $1.81 billion to $1.85 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Covanta Holding Corporation.
Covanta Holding Corporation (NYSE:CVA) last posted its quarterly earnings results on Thursday, October 26th. The energy company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The business had revenue of $429.00 million during the quarter, compared to the consensus estimate of $421.87 million. Covanta Holding Corporation had a negative net margin of 3.68% and a negative return on equity of 12.12%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share.
A number of research firms recently issued reports on CVA. Stifel Nicolaus raised Covanta Holding Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $15.50 to $17.00 in a research note on Monday, July 31st. BMO Capital Markets raised Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $16.00 to $17.00 in a research note on Monday, July 31st. Robert W. Baird reissued a “buy” rating and set a $19.00 target price on shares of Covanta Holding Corporation in a research note on Wednesday. Barclays PLC raised Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $16.00 to $15.00 in a research note on Wednesday, July 12th. Finally, BidaskClub raised Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. Covanta Holding Corporation currently has an average rating of “Buy” and a consensus target price of $17.69.
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The firm also recently declared a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Thursday, September 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $1.00 annualized dividend and a dividend yield of 6.21%. Covanta Holding Corporation’s dividend payout ratio is currently -200.00%.
Several institutional investors and hedge funds have recently modified their holdings of CVA. Quantbot Technologies LP bought a new position in shares of Covanta Holding Corporation during the 2nd quarter worth approximately $107,000. IFP Advisors Inc grew its stake in shares of Covanta Holding Corporation by 42.1% during the 2nd quarter. IFP Advisors Inc now owns 8,927 shares of the energy company’s stock worth $118,000 after acquiring an additional 2,647 shares in the last quarter. Connable Office Inc. bought a new position in shares of Covanta Holding Corporation during the 2nd quarter worth approximately $133,000. ProShare Advisors LLC bought a new position in shares of Covanta Holding Corporation during the 2nd quarter worth approximately $147,000. Finally, Verition Fund Management LLC grew its stake in shares of Covanta Holding Corporation by 9.7% during the 2nd quarter. Verition Fund Management LLC now owns 11,779 shares of the energy company’s stock worth $155,000 after acquiring an additional 1,039 shares in the last quarter. 96.57% of the stock is owned by institutional investors.
Covanta Holding Corporation 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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