Robert W. Baird restated their buy rating on shares of Covanta Holding Corporation (NYSE:CVA) in a report published on Wednesday, November 1st. They currently have a $19.00 target price on the energy company’s stock.
CVA has been the topic of a number of other reports. Barclays PLC raised shares of Covanta Holding Corporation from an equal weight rating to an overweight rating and lowered their price target for the stock from $16.00 to $15.00 in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reaffirmed a buy rating on shares of Covanta Holding Corporation in a report on Monday, July 17th. BidaskClub downgraded shares of Covanta Holding Corporation from a sell rating to a strong sell rating in a report on Wednesday, July 19th. BMO Capital Markets raised shares of Covanta Holding Corporation from a market perform rating to an outperform rating and increased their price objective for the company from $16.00 to $17.00 in a report on Monday, July 31st. Finally, Stifel Nicolaus upgraded shares of Covanta Holding Corporation from a hold rating to a buy rating and increased their target price for the company from $15.50 to $17.00 in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $17.69.
Shares of Covanta Holding Corporation (NYSE CVA) traded down $0.15 on Wednesday, hitting $15.40. 1,004,200 shares of the stock traded hands, compared to its average volume of 1,137,288. Covanta Holding Corporation has a 52-week low of $13.00 and a 52-week high of $16.50. The company has a debt-to-equity ratio of 8.39, a current ratio of 1.21 and a quick ratio of 1.21.
Covanta Holding Corporation (NYSE:CVA) last issued its quarterly earnings results on Thursday, October 26th. The energy company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. Covanta Holding Corporation had a negative net margin of 3.68% and a negative return on equity of 12.66%. The business had revenue of $429.00 million for the quarter, compared to analyst estimates of $421.87 million. During the same quarter in the prior year, the business posted $0.18 EPS. Covanta Holding Corporation’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities analysts expect that Covanta Holding Corporation will post -0.26 EPS for the current year.
In other Covanta Holding Corporation news, Director Robert Brian Murray sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $0.25, for a total value of $37,500.00. Also, Director John Vincent Hickey sold 90,000 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $0.29, for a total transaction of $26,100.00. In the last three months, insiders sold 310,000 shares of company stock valued at $83,200. Insiders own 11.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CVA. Nationwide Fund Advisors increased its stake in shares of Covanta Holding Corporation by 326.4% during the 2nd quarter. Nationwide Fund Advisors now owns 68,021 shares of the energy company’s stock valued at $898,000 after acquiring an additional 52,068 shares during the last quarter. Pinnacle Associates Ltd. increased its position in Covanta Holding Corporation by 91.9% during the 2nd quarter. Pinnacle Associates Ltd. now owns 197,474 shares of the energy company’s stock worth $2,607,000 after purchasing an additional 94,548 shares in the last quarter. Bank of New York Mellon Corp increased its position in Covanta Holding Corporation by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,248,100 shares of the energy company’s stock worth $29,675,000 after purchasing an additional 78,047 shares in the last quarter. Marathon Capital Management acquired a new stake in Covanta Holding Corporation during the 2nd quarter worth approximately $1,328,000. Finally, PARK CIRCLE Co increased its position in Covanta Holding Corporation by 47.7% during the 2nd quarter. PARK CIRCLE Co now owns 32,500 shares of the energy company’s stock worth $429,000 after purchasing an additional 10,500 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.
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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