Analysts expect Covanta Holding Corp (NYSE:CVA) to post ($0.10) earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Covanta’s earnings, with the highest EPS estimate coming in at ($0.07) and the lowest estimate coming in at ($0.17). Covanta posted earnings of ($0.22) per share during the same quarter last year, which suggests a positive year over year growth rate of 54.5%. The business is scheduled to issue its next quarterly earnings results on Thursday, July 26th.
On average, analysts expect that Covanta will report full year earnings of $0.04 per share for the current year, with EPS estimates ranging from $0.02 to $0.08. For the next fiscal year, analysts expect that the business will post earnings of $0.11 per share, with EPS estimates ranging from $0.05 to $0.18. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Covanta.
Covanta (NYSE:CVA) last issued its quarterly earnings data on Thursday, April 26th. The energy company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.12. The firm had revenue of $458.00 million during the quarter, compared to analysts’ expectations of $431.30 million. Covanta had a negative return on equity of 3.19% and a net margin of 17.17%. Covanta’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.37) earnings per share.
Several brokerages recently issued reports on CVA. ValuEngine cut Covanta from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. UBS initiated coverage on Covanta in a research report on Wednesday, March 14th. They set a “neutral” rating and a $15.00 price target for the company. Finally, Zacks Investment Research downgraded Covanta from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.25.
Covanta traded up $0.20, hitting $15.75, during midday trading on Friday, Marketbeat Ratings reports. 624,354 shares of the stock were exchanged, compared to its average volume of 868,404. The stock has a market cap of $2.07 billion, a PE ratio of -42.57, a P/E/G ratio of 24.38 and a beta of 0.69. Covanta has a fifty-two week low of $13.00 and a fifty-two week high of $17.30. The company has a debt-to-equity ratio of 3.75, a quick ratio of 1.28 and a current ratio of 1.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 6th. Stockholders of record on Friday, June 29th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date is Thursday, June 28th. Covanta’s dividend payout ratio is currently -270.27%.
In other news, insider Paul E. Stauder sold 2,322 shares of Covanta stock in a transaction on Monday, May 14th. The stock was sold at an average price of $15.56, for a total value of $36,130.32. Following the completion of the sale, the insider now owns 44,025 shares of the company’s stock, valued at $685,029. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronald J. Broglio sold 8,500 shares of Covanta stock in a transaction on Monday, May 14th. The shares were sold at an average price of $15.71, for a total value of $133,535.00. Following the completion of the sale, the director now directly owns 6,751 shares of the company’s stock, valued at approximately $106,058.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,822 shares of company stock valued at $214,365. Company insiders own 10.90% of the company’s stock.
Several large investors have recently made changes to their positions in CVA. Quad Cities Investment Group LLC purchased a new stake in Covanta during the first quarter valued at about $150,000. Fox Run Management L.L.C. purchased a new stake in Covanta during the fourth quarter valued at about $178,000. Verition Fund Management LLC purchased a new stake in Covanta during the fourth quarter valued at about $207,000. Xact Kapitalforvaltning AB purchased a new stake in Covanta during the fourth quarter valued at about $214,000. Finally, Vident Investment Advisory LLC purchased a new stake in Covanta during the fourth quarter valued at about $229,000. 87.44% of the stock is owned by institutional investors and hedge funds.
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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