Analysts Expect Covanta Holding Corp (CVA) Will Announce Earnings of $0.12 Per Share

Wall Street brokerages predict that Covanta Holding Corp (NYSE:CVA) will post $0.12 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Covanta’s earnings, with the highest EPS estimate coming in at $0.15 and the lowest estimate coming in at $0.09. Covanta posted earnings of $0.09 per share in the same quarter last year, which indicates a positive year over year growth rate of 33.3%. The firm is expected to announce its next earnings report on Thursday, February 28th.

On average, analysts expect that Covanta will report full year earnings of ($0.01) per share for the current fiscal year, with EPS estimates ranging from ($0.04) to $0.02. For the next year, analysts anticipate that the company will report earnings of $0.10 per share, with EPS estimates ranging from $0.06 to $0.16. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Covanta.

Covanta (NYSE:CVA) last posted its earnings results on Thursday, October 25th. The energy company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.11). The business had revenue of $456.00 million during the quarter, compared to analyst estimates of $449.75 million. Covanta had a net margin of 14.71% and a negative return on equity of 1.30%.

A number of research firms have issued reports on CVA. BMO Capital Markets reiterated a “buy” rating and issued a $20.00 target price (up from $19.00) on shares of Covanta in a research note on Friday, July 27th. ValuEngine upgraded shares of Covanta from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. Credit Suisse Group lifted their target price on shares of Covanta from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Zacks Investment Research cut shares of Covanta from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. Finally, Raymond James lifted their target price on shares of Covanta from $17.50 to $19.00 and gave the company a “strong-buy” rating in a research note on Monday, July 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Covanta currently has a consensus rating of “Buy” and a consensus target price of $17.33.

In other news, insider Paul E. Stauder sold 2,000 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $17.53, for a total value of $35,060.00. Following the completion of the sale, the insider now directly owns 42,025 shares in the company, valued at $736,698.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.90% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of CVA. Atria Investments LLC lifted its stake in shares of Covanta by 57.9% in the second quarter. Atria Investments LLC now owns 17,444 shares of the energy company’s stock worth $288,000 after buying an additional 6,397 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Covanta by 5.0% in the second quarter. Bank of Montreal Can now owns 940,528 shares of the energy company’s stock worth $15,518,000 after buying an additional 44,380 shares during the last quarter. Ramsey Quantitative Systems acquired a new stake in shares of Covanta in the second quarter worth $376,000. Coastline Trust Co acquired a new stake in shares of Covanta in the second quarter worth $1,036,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Covanta by 3.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 681,256 shares of the energy company’s stock worth $11,241,000 after buying an additional 22,260 shares during the last quarter. Institutional investors and hedge funds own 81.51% of the company’s stock.

NYSE CVA remained flat at $$15.95 during trading on Wednesday. 660,546 shares of the company’s stock were exchanged, compared to its average volume of 683,024. The company has a debt-to-equity ratio of 4.87, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $2.09 billion, a PE ratio of -43.11 and a beta of 0.99. Covanta has a 1 year low of $14.15 and a 1 year high of $18.05.

Covanta Company Profile

Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses.

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Earnings History and Estimates for Covanta (NYSE:CVA)

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