Covanta Holding Corporation’s (CVA) Buy Rating Reiterated at Stifel Nicolaus
Stifel Nicolaus restated their buy rating on shares of Covanta Holding Corporation (NYSE:CVA) in a research report sent to investors on Tuesday. The firm currently has a $17.00 price target on the energy company’s stock.
A number of other equities analysts have also recently commented on the stock. Robert W. Baird raised shares of Covanta Holding Corporation from a neutral rating to an outperform rating and set a $17.00 price target for the company in a research note on Monday, May 15th. Barclays PLC raised shares of Covanta Holding Corporation from an equal weight rating to an overweight rating and lowered their price objective for the company from $16.00 to $15.00 in a research report on Wednesday, July 12th. BMO Capital Markets began coverage on shares of Covanta Holding Corporation in a research report on Thursday, June 29th. They issued a market perform rating and a $16.00 price objective for the company. BidaskClub cut shares of Covanta Holding Corporation from a sell rating to a strong sell rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research cut shares of Covanta Holding Corporation from a hold rating to a strong sell rating in a research report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $17.19.
Shares of Covanta Holding Corporation (NYSE CVA) opened at 14.35 on Tuesday. Covanta Holding Corporation has a 12-month low of $13.00 and a 12-month high of $16.50. The stock’s 50 day moving average is $14.10 and its 200-day moving average is $14.52. The stock’s market capitalization is $1.87 billion.
Covanta Holding Corporation (NYSE:CVA) last released its quarterly earnings results on Thursday, July 27th. The energy company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.04. Covanta Holding Corporation had a negative return on equity of 9.81% and a negative net margin of 1.41%. The firm had revenue of $424 million for the quarter, compared to analysts’ expectations of $416.18 million. During the same period in the prior year, the firm posted ($0.22) earnings per share. Covanta Holding Corporation’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, analysts expect that Covanta Holding Corporation will post ($0.23) earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in Covanta Holding Corporation in the 2nd quarter valued at about $107,000. IFP Advisors Inc lifted its position in shares of Covanta Holding Corporation by 42.1% in the 2nd quarter. IFP Advisors Inc now owns 8,927 shares of the energy company’s stock worth $118,000 after purchasing an additional 2,647 shares during the period. Connable Office Inc. purchased a new stake in shares of Covanta Holding Corporation in the 2nd quarter worth approximately $133,000. ProShare Advisors LLC purchased a new stake in shares of Covanta Holding Corporation in the 2nd quarter worth approximately $147,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Covanta Holding Corporation by 15.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,380 shares of the energy company’s stock worth $178,000 after purchasing an additional 1,500 shares during the period. 96.24% of the stock is owned by institutional investors.
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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