Covanta Holding Corp. (CVA) Given Consensus Recommendation of “Buy” by Analysts
Shares of Covanta Holding Corp. (NYSE:CVA) have been given a consensus rating of “Buy” by the eleven research firms that are covering the firm. Four analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $17.56.
CVA has been the subject of several recent research reports. Barclays PLC upgraded Covanta Holding Corp. from an “equal weight” rating to an “overweight” rating and set a $16.00 price target for the company in a research note on Monday, November 7th. Zacks Investment Research raised Covanta Holding Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 26th. Imperial Capital dropped their price objective on Covanta Holding Corp. from $18.50 to $18.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Macquarie began coverage on Covanta Holding Corp. in a report on Thursday, August 25th. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Covanta Holding Corp. in a report on Friday, September 23rd.
In other Covanta Holding Corp. news, Director Robert S. Silberman purchased 2,000 shares of the stock in a transaction dated Monday, November 14th. The stock was bought at an average price of $14.73 per share, with a total value of $29,460.00. Following the acquisition, the director now owns 66,500 shares of the company’s stock, valued at $979,545. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.80% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Wellington Shields & Co. LLC boosted its position in shares of Covanta Holding Corp. by 0.6% in the third quarter. Wellington Shields & Co. LLC now owns 15,846 shares of the company’s stock worth $244,000 after buying an additional 89 shares during the last quarter. IBM Retirement Fund boosted its position in shares of Covanta Holding Corp. by 0.9% in the second quarter. IBM Retirement Fund now owns 11,769 shares of the company’s stock worth $194,000 after buying an additional 108 shares during the last quarter. OLD National Bancorp IN boosted its position in shares of Covanta Holding Corp. by 0.7% in the second quarter. OLD National Bancorp IN now owns 21,490 shares of the company’s stock worth $354,000 after buying an additional 140 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Covanta Holding Corp. by 2.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 8,763 shares of the company’s stock worth $144,000 after buying an additional 185 shares during the last quarter. Finally, Godshalk Welsh Capital Management Inc. boosted its position in shares of Covanta Holding Corp. by 0.6% in the third quarter. Godshalk Welsh Capital Management Inc. now owns 42,650 shares of the company’s stock worth $656,000 after buying an additional 250 shares during the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.
Shares of Covanta Holding Corp. (NYSE:CVA) opened at 15.15 on Friday. The stock’s 50 day moving average price is $14.73 and its 200 day moving average price is $15.60. Covanta Holding Corp. has a one year low of $12.48 and a one year high of $17.75. The company has a market cap of $1.95 billion, a PE ratio of 30.24 and a beta of 0.76.
Covanta Holding Corp. (NYSE:CVA) last released its quarterly earnings results on Tuesday, October 25th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The business earned $421 million during the quarter, compared to the consensus estimate of $421.72 million. Covanta Holding Corp. had a negative return on equity of 4.97% and a net margin of 3.88%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. Equities analysts predict that Covanta Holding Corp. will post ($0.10) earnings per share for the current fiscal year.
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Covanta Holding Corp. 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. It 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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