Covanta Holding Corporation Forecasted to Post FY2019 Earnings of $0.24 Per Share (CVA)

Covanta Holding Corporation (NYSE:CVA) – Stock analysts at Oppenheimer Holdings increased their FY2019 earnings per share (EPS) estimates for shares of Covanta Holding Corporation in a report issued on Friday. Oppenheimer Holdings analyst N. Kaye now forecasts that the energy company will post earnings per share of $0.24 for the year, up from their prior forecast of $0.21. Oppenheimer Holdings has a “Buy” rating on the stock. Oppenheimer Holdings also issued estimates for Covanta Holding Corporation’s FY2020 earnings at $0.28 EPS.

Covanta Holding Corporation (NYSE:CVA) last posted its quarterly earnings data on Thursday, October 26th. The energy company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $429.00 million for the quarter, compared to analyst estimates of $421.87 million. Covanta Holding Corporation had a negative net margin of 3.68% and a negative return on equity of 12.12%. Covanta Holding Corporation’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share. COPYRIGHT VIOLATION WARNING: “Covanta Holding Corporation Forecasted to Post FY2019 Earnings of $0.24 Per Share (CVA)” was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://sportsperspectives.com/2017/11/01/covanta-holding-corporation-forecasted-to-post-fy2019-earnings-of-0-24-per-share-cva.html.

A number of other research analysts also recently commented on the stock. Robert W. Baird reiterated a “buy” rating and set a $17.00 price objective on shares of Covanta Holding Corporation in a research note on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and issued a $17.00 price target on shares of Covanta Holding Corporation in a research report on Tuesday, September 5th. Zacks Investment Research upgraded shares of Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. Barclays PLC upgraded shares of Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $16.00 to $15.00 in a research report on Wednesday, July 12th. Finally, BidaskClub downgraded shares of Covanta Holding Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $17.69.

Several institutional investors have recently bought and sold shares of CVA. Ameriprise Financial Inc. lifted its position in shares of Covanta Holding Corporation by 4.2% in the 1st quarter. Ameriprise Financial Inc. now owns 117,530 shares of the energy company’s stock worth $1,847,000 after buying an additional 4,777 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Covanta Holding Corporation by 40.1% in the 1st quarter. JPMorgan Chase & Co. now owns 25,629 shares of the energy company’s stock worth $402,000 after buying an additional 7,338 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Covanta Holding Corporation by 3.9% in the 1st quarter. Alliancebernstein L.P. now owns 59,332 shares of the energy company’s stock worth $932,000 after buying an additional 2,230 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Covanta Holding Corporation by 11.3% in the 1st quarter. Wellington Management Group LLP now owns 127,363 shares of the energy company’s stock worth $1,999,000 after buying an additional 12,923 shares during the last quarter. Finally, FMR LLC bought a new position in shares of Covanta Holding Corporation in the 1st quarter worth about $229,000. Institutional investors own 96.57% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Thursday, September 28th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.21%. Covanta Holding Corporation’s payout ratio is currently -200.00%.

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.

Earnings History and Estimates for Covanta Holding Corporation (NYSE:CVA)

Receive News & Ratings for Covanta Holding Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covanta Holding Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply