Wall Street analysts predict that Covanta Holding Co. (NYSE:CVA) will post sales of $465.68 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Covanta Holding’s earnings. The highest sales estimate is $489.60 million and the lowest is $456.10 million. Covanta Holding posted sales of $457.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.9%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 21st.
According to Zacks, analysts expect that Covanta Holding will report full year sales of $465.68 million for the current financial year, with estimates ranging from $1.71 billion to $1.75 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.84 billion per share, with estimates ranging from $1.81 billion to $1.85 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Covanta Holding.
Covanta Holding (NYSE:CVA) last announced its earnings results on Thursday, October 26th. The energy company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04. Covanta Holding had a return on equity of 17.67% and a net margin of 3.50%. The business had revenue of $429.00 million during the quarter, compared to analyst estimates of $421.87 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year.
In related news, Director John Vincent Hickey sold 90,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $0.29, for a total value of $26,100.00. Also, Director Robert Brian Murray sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $0.25, for a total transaction of $37,500.00. Insiders sold 310,000 shares of company stock valued at $83,200 in the last three months. 11.60% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Beacon Investment Advisory Services Inc. bought a new position in Covanta Holding in the third quarter worth approximately $311,000. First Allied Advisory Services Inc. acquired a new position in shares of Covanta Holding during the third quarter worth $161,000. Keeley Teton Advisors LLC increased its position in shares of Covanta Holding by 26.8% during the third quarter. Keeley Teton Advisors LLC now owns 130,268 shares of the energy company’s stock worth $1,934,000 after purchasing an additional 27,550 shares in the last quarter. Stifel Financial Corp increased its position in shares of Covanta Holding by 17.3% during the third quarter. Stifel Financial Corp now owns 340,446 shares of the energy company’s stock worth $5,044,000 after purchasing an additional 50,211 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Covanta Holding by 10.3% during the third quarter. KBC Group NV now owns 40,244 shares of the energy company’s stock worth $598,000 after purchasing an additional 3,763 shares in the last quarter. 97.36% of the stock is owned by institutional investors.
Covanta Holding (NYSE:CVA) opened at $15.25 on Wednesday. Covanta Holding has a 12-month low of $13.00 and a 12-month high of $16.50. The company has a debt-to-equity ratio of 8.39, a quick ratio of 1.21 and a current ratio of 1.21.
About Covanta Holding
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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