Covanta Holding Corporation (NYSE:CVA) - Stock analysts at Oppenheimer Holdings issued their FY2020 earnings per share (EPS) estimates for Covanta Holding Corporation in a note issued to investors on Monday. Oppenheimer Holdings analyst N. Kaye forecasts that the energy company will post earnings of $0.35 per share for the year. Oppenheimer Holdings has a “Buy” rating on the stock.
Covanta Holding Corporation (NYSE:CVA) last released its quarterly earnings data on Tuesday, April 25th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.16. Covanta Holding Corporation had a negative net margin of 0.94% and a negative return on equity of 8.88%. The firm had revenue of $404 million during the quarter, compared to analyst estimates of $399.69 million. During the same period in the prior year, the company earned ($0.19) EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year.
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CVA has been the subject of a number of other research reports. BMO Capital Markets began coverage on Covanta Holding Corporation in a research report on Thursday, June 29th. They issued a “market perform” rating and a $16.00 target price for the company. Barclays PLC upgraded Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $16.00 to $15.00 in a research report on Wednesday, July 12th. BidaskClub downgraded Covanta Holding Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Robert W. Baird upgraded Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 target price for the company in a research report on Monday, May 15th. Finally, Zacks Investment Research cut Covanta Holding Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $17.20.
Covanta Holding Corporation (NYSE CVA) traded down 0.562% on Tuesday, hitting $13.275. The stock had a trading volume of 590,013 shares. The stock’s market capitalization is $1.71 billion. The company has a 50-day moving average price of $14.26 and a 200-day moving average price of $15.16. Covanta Holding Corporation has a 1-year low of $13.00 and a 1-year high of $17.09.
Several institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its position in Covanta Holding Corporation by 15.2% in the first quarter. PNC Financial Services Group Inc. now owns 11,380 shares of the energy company’s stock valued at $178,000 after buying an additional 1,500 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Covanta Holding Corporation by 26.7% in the first quarter. Clearbridge Investments LLC now owns 11,989 shares of the energy company’s stock valued at $188,000 after buying an additional 2,528 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Covanta Holding Corporation during the first quarter valued at $197,000. FMR LLC purchased a new stake in shares of Covanta Holding Corporation during the first quarter valued at $229,000. Finally, Tiedemann Wealth Management LLC purchased a new stake in shares of Covanta Holding Corporation during the first quarter valued at $239,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Paul E. Stauder sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $14.50, for a total transaction of $36,250.00. Following the transaction, the insider now directly owns 30,639 shares of the company’s stock, valued at $444,265.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael W. Ranger bought 40,000 shares of Covanta Holding Corporation stock in a transaction dated Thursday, April 27th. The shares were acquired at an average cost of $14.56 per share, for a total transaction of $582,400.00. Following the completion of the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $582,400. The disclosure for this purchase can be found here. 11.60% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Thursday, June 29th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 27th. This represents a $1.00 annualized dividend and a dividend yield of 7.49%. Covanta Holding Corporation’s dividend payout ratio (DPR) is presently -714.23%.
About Covanta Holding Corporation
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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