Analysts Expect Covia Holdings (CVIA) to Post -$0.28 Earnings Per Share

Equities analysts forecast that Covia Holdings (NASDAQ:CVIA) will announce ($0.28) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Covia’s earnings, with the lowest EPS estimate coming in at ($0.36) and the highest estimate coming in at ($0.19). The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, March 21st.

On average, analysts expect that Covia will report full year earnings of $0.68 per share for the current fiscal year, with EPS estimates ranging from $0.12 to $1.06. For the next fiscal year, analysts forecast that the business will report earnings of ($0.73) per share, with EPS estimates ranging from ($1.26) to $0.10. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that cover Covia.

Covia (NASDAQ:CVIA) last issued its quarterly earnings data on Wednesday, November 14th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.21). The firm had revenue of $523.40 million during the quarter, compared to analyst estimates of $615.07 million. Covia’s quarterly revenue was up 50.5% compared to the same quarter last year.

CVIA has been the subject of several analyst reports. B. Riley reduced their price objective on Covia from $15.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, November 20th. Zacks Investment Research cut Covia from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. OTR Global cut Covia from a “positive” rating to a “negative” rating in a report on Friday, December 21st. Cowen cut Covia from an “outperform” rating to a “market perform” rating in a report on Thursday, January 17th. Finally, Credit Suisse Group dropped their target price on Covia from $7.50 to $6.00 and set an “underperform” rating on the stock in a report on Thursday, November 15th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Covia presently has an average rating of “Hold” and an average price target of $13.50.

Shares of NASDAQ CVIA traded down $0.02 during midday trading on Tuesday, hitting $4.80. 284,783 shares of the company’s stock were exchanged, compared to its average volume of 426,263. Covia has a twelve month low of $3.23 and a twelve month high of $30.00.

In related news, Director William E. Conway purchased 20,000 shares of the company’s stock in a transaction on Monday, November 19th. The shares were bought at an average price of $6.98 per share, with a total value of $139,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Paloma Partners Management Co purchased a new position in shares of Covia during the 4th quarter valued at $77,000. Bank of America Corp DE grew its holdings in shares of Covia by 183.9% during the 4th quarter. Bank of America Corp DE now owns 29,952 shares of the company’s stock valued at $102,000 after acquiring an additional 19,401 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Covia during the 4th quarter valued at $428,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Covia during the 4th quarter valued at $324,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Covia during the 4th quarter valued at $114,000.

Covia Company Profile

Covia Holdings Corporation provides minerals and material solutions for the industrial and energy markets. The company offers various mineral solutions to the glass, ceramics, coatings, polymers, construction, water filtration, sports, and recreation markets. It also offers a range of high-purity silica sand, nepheline syenite, feldspar, clay, kaolin, lime, resin systems, and coated materials.

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Earnings History and Estimates for Covia (NASDAQ:CVIA)

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