Covanta Holding Corporation (NYSE:CVA) posted its earnings results on Thursday, October 26th. The company reported C$0.12 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.08 by C$0.04, Bloomberg Earnings reports. The firm had revenue of C$429.00 million for the quarter, compared to the consensus estimate of C$421.87 million. Covanta Holding Corporation had a negative net margin of 3.68% and a negative return on equity of 12.66%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS.
Shares of Covanta Holding Corporation (CVA) traded up C$0.05 during trading hours on Friday, hitting C$15.55. 962,324 shares of the stock traded hands, compared to its average volume of 1,108,559. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 8.39. Covanta Holding Corporation has a 1-year low of C$13.00 and a 1-year high of C$16.50.
Several research analysts have issued reports on the stock. Zacks Investment Research raised shares of Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. BidaskClub downgraded shares of Covanta Holding Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Stifel Nicolaus raised shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and raised their price objective for the stock from $15.50 to $17.00 in a research report on Monday, July 31st. Robert W. Baird reissued a “buy” rating and set a $17.00 price objective on shares of Covanta Holding Corporation in a research report on Friday, September 1st. Finally, BMO Capital Markets raised their price objective on shares of Covanta Holding Corporation from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of C$17.69.
In other news, Director John Vincent Hickey sold 90,000 shares of Covanta Holding Corporation stock in a transaction dated Friday, October 20th. The shares were sold at an average price of C$0.29, for a total value of C$26,100.00. Also, Director Robert Brian Murray sold 150,000 shares of Covanta Holding Corporation stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of C$0.25, for a total transaction of C$37,500.00. In the last ninety days, insiders sold 310,000 shares of company stock worth $83,200. Insiders own 11.60% of the company’s stock.
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Covanta Holding Corporation Company Profile
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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