Zacks: Brokerages Anticipate Covanta Holding Corp (CVA) Will Announce Quarterly Sales of $465.68 Million

Analysts expect Covanta Holding Corp (NYSE:CVA) to report sales of $465.68 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Covanta’s earnings, with estimates ranging from $456.10 million to $489.60 million. Covanta reported sales of $457.00 million in the same quarter last year, which indicates a positive year over year growth rate of 1.9%. The company is expected to report its next earnings report after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that Covanta will report full-year sales of $465.68 million for the current year, with estimates ranging from $1.71 billion to $1.75 billion. For the next financial year, analysts expect that the firm will report sales of $1.82 billion per share, with estimates ranging from $1.78 billion to $1.85 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Covanta.

Several brokerages have commented on CVA. Zacks Investment Research upgraded Covanta from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Monday, October 9th. Robert W. Baird restated a “buy” rating and set a $19.00 price target on shares of Covanta in a research note on Wednesday, November 1st. Oppenheimer reiterated a “buy” rating and issued a $19.00 target price on shares of Covanta in a research note on Tuesday, December 19th. BMO Capital Markets increased their target price on Covanta from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, October 30th. Finally, Goldman Sachs Group upgraded Covanta from a “sell” rating to a “neutral” rating and set a $16.00 target price for the company in a research note on Sunday, January 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Covanta has an average rating of “Hold” and a consensus price target of $18.00.

Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of Covanta in the second quarter valued at about $107,000. Fox Run Management L.L.C. acquired a new stake in shares of Covanta in the fourth quarter valued at about $178,000. First Allied Advisory Services Inc. acquired a new stake in shares of Covanta in the third quarter valued at about $161,000. ProShare Advisors LLC acquired a new stake in shares of Covanta in the second quarter valued at about $147,000. Finally, Verition Fund Management LLC grew its stake in Covanta by 9.7% during the 2nd quarter. Verition Fund Management LLC now owns 11,779 shares of the energy company’s stock valued at $155,000 after purchasing an additional 1,039 shares in the last quarter. Institutional investors and hedge funds own 95.29% of the company’s stock.

Shares of Covanta (CVA) opened at $15.20 on Tuesday. The company has a market capitalization of $1,990.00, a PE ratio of -29.80, a price-to-earnings-growth ratio of 15.75 and a beta of 0.65. The company has a debt-to-equity ratio of 8.39, a quick ratio of 1.21 and a current ratio of 1.21. Covanta has a 12 month low of $13.00 and a 12 month high of $17.30.

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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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Earnings History and Estimates for Covanta (NYSE:CVA)

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