Covanta Holding Corp (CVA) Expected to Post Quarterly Sales of $439.37 Million

Equities research analysts expect Covanta Holding Corp (NYSE:CVA) to post $439.37 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Covanta’s earnings. The highest sales estimate is $451.10 million and the lowest is $423.00 million. Covanta reported sales of $404.00 million during the same quarter last year, which indicates a positive year over year growth rate of 8.8%. The company is expected to announce its next earnings results on Tuesday, April 24th.

On average, analysts expect that Covanta will report full-year sales of $439.37 million for the current year, with estimates ranging from $1.81 billion to $1.86 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.85 billion per share, with estimates ranging from $1.84 billion to $1.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Covanta.

Covanta (NYSE:CVA) last issued its quarterly earnings data on Thursday, February 22nd. The energy company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.11). The firm had revenue of $495.00 million for the quarter, compared to analyst estimates of $462.71 million. Covanta had a negative return on equity of 13.02% and a net margin of 3.25%. Covanta’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS.

A number of equities research analysts have recently commented on CVA shares. Oppenheimer reaffirmed a “buy” rating and set a $19.00 price objective on shares of Covanta in a research note on Tuesday, December 19th. Zacks Investment Research cut shares of Covanta from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Goldman Sachs Group raised shares of Covanta from a “sell” rating to a “neutral” rating and set a $16.00 price target on the stock in a research note on Sunday, January 7th. Finally, ValuEngine cut shares of Covanta from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Shares of Covanta (CVA) opened at $14.80 on Monday. The company has a market cap of $1,938.69, a P/E ratio of 34.42, a PEG ratio of 14.62 and a beta of 0.71. Covanta has a one year low of $13.00 and a one year high of $17.30. The company has a debt-to-equity ratio of 5.83, a quick ratio of 1.11 and a current ratio of 1.11.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Thursday, March 29th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 6.76%. Covanta’s dividend payout ratio is currently 232.56%.

In related news, insider Paul E. Stauder sold 3,000 shares of Covanta stock in a transaction on Monday, March 5th. The shares were sold at an average price of $14.90, for a total value of $44,700.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in CVA. First Allied Advisory Services Inc. acquired a new stake in Covanta in the 3rd quarter valued at $161,000. Fox Run Management L.L.C. acquired a new stake in Covanta in the 4th quarter valued at $178,000. Verition Fund Management LLC acquired a new stake in Covanta in the 4th quarter valued at $207,000. Cutler Group LP grew its stake in Covanta by 81.3% in the 4th quarter. Cutler Group LP now owns 12,490 shares of the energy company’s stock valued at $211,000 after acquiring an additional 5,601 shares during the period. Finally, Xact Kapitalforvaltning AB purchased a new position in Covanta in the 4th quarter valued at $214,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

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About Covanta

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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