Covanta Holding Corporation (CVA) to Post Q4 2017 Earnings of $0.28 Per Share, Oppenheimer Holdings Forecasts
Covanta Holding Corporation (NYSE:CVA) – Investment analysts at Oppenheimer Holdings lifted their Q4 2017 earnings per share estimates for Covanta Holding Corporation in a research note issued to investors on Thursday. Oppenheimer Holdings analyst N. Kaye now anticipates that the energy company will earn $0.28 per share for the quarter, up from their previous forecast of $0.27. Oppenheimer Holdings has a “Buy” rating on the stock.
CVA has been the topic of a number of other reports. Zacks Investment Research raised Covanta Holding Corporation from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Monday, October 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $17.00 price objective on shares of Covanta Holding Corporation in a research report on Tuesday, September 5th. Robert W. Baird reaffirmed a “buy” rating and set a $17.00 price objective on shares of Covanta Holding Corporation in a research report on Friday, September 1st. BidaskClub cut Covanta Holding Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, BMO Capital Markets started coverage on Covanta Holding Corporation in a research report on Thursday, June 29th. They set a “market perform” rating and a $16.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $17.06.
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Shares of Covanta Holding Corporation (NYSE CVA) opened at 15.35 on Friday. The company’s market capitalization is $2.00 billion. Covanta Holding Corporation has a 52 week low of $13.00 and a 52 week high of $16.50. The company has a 50-day moving average price of $14.81 and a 200-day moving average price of $14.39.
Covanta Holding Corporation (NYSE:CVA) last issued its quarterly earnings results on Thursday, July 27th. The energy company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.04). The company had revenue of $424.00 million during the quarter, compared to analysts’ expectations of $416.18 million. Covanta Holding Corporation had a negative return on equity of 9.81% and a negative net margin of 1.41%. Covanta Holding Corporation’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.22) earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Thursday, September 28th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.51%. Covanta Holding Corporation’s payout ratio is currently -526.29%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Covanta Holding Corporation by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 9,848,006 shares of the energy company’s stock valued at $129,993,000 after purchasing an additional 395,239 shares during the period. BlackRock Inc. raised its stake in Covanta Holding Corporation by 41.6% during the 2nd quarter. BlackRock Inc. now owns 8,360,500 shares of the energy company’s stock valued at $110,359,000 after purchasing an additional 2,455,569 shares during the period. Neuberger Berman Group LLC raised its stake in Covanta Holding Corporation by 11.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,817,457 shares of the energy company’s stock valued at $76,790,000 after purchasing an additional 616,425 shares during the period. Thompson Siegel & Walmsley LLC raised its stake in Covanta Holding Corporation by 41.7% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 3,179,991 shares of the energy company’s stock valued at $41,976,000 after purchasing an additional 936,309 shares during the period. Finally, State Street Corp raised its stake in Covanta Holding Corporation by 46.7% during the 2nd quarter. State Street Corp now owns 2,510,700 shares of the energy company’s stock valued at $33,146,000 after purchasing an additional 799,767 shares during the period. 96.25% of the stock is currently 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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