Covanta Holding Corp (NYSE:CVA) has received a consensus rating of “Hold” from the ten brokerages that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $16.83.

A number of research analysts recently issued reports on the stock. ValuEngine downgraded shares of Covanta from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group began coverage on shares of Covanta in a report on Wednesday, November 27th. They issued a “hold” rating and a $16.00 price target on the stock. Barclays reaffirmed a “hold” rating and set a $16.00 price target on shares of Covanta in a research report on Tuesday, October 29th. Finally, Raymond James lowered Covanta from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd.

NYSE CVA traded up $0.10 during trading hours on Tuesday, reaching $14.70. The stock had a trading volume of 496,500 shares, compared to its average volume of 744,256. Covanta has a 52-week low of $12.92 and a 52-week high of $18.38. The stock has a fifty day moving average of $14.91 and a 200 day moving average of $16.72. The company has a debt-to-equity ratio of 6.85, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market cap of $1.92 billion, a P/E ratio of -147.00, a price-to-earnings-growth ratio of 19.61 and a beta of 1.26.

Covanta (NYSE:CVA) last posted its quarterly earnings results on Thursday, October 24th. The energy company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. The company had revenue of $465.00 million during the quarter, compared to analyst estimates of $464.96 million. Covanta had a net margin of 0.37% and a return on equity of 0.69%. Covanta’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) EPS. On average, equities research analysts forecast that Covanta will post 0.05 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in CVA. Sandy Spring Bank acquired a new stake in shares of Covanta during the 3rd quarter valued at about $30,000. Point72 Hong Kong Ltd purchased a new position in Covanta during the second quarter worth approximately $33,000. Strs Ohio acquired a new stake in Covanta in the second quarter valued at approximately $48,000. Advisory Services Network LLC increased its position in shares of Covanta by 80.2% in the second quarter. Advisory Services Network LLC now owns 2,795 shares of the energy company’s stock valued at $50,000 after buying an additional 1,244 shares in the last quarter. Finally, TRUE Private Wealth Advisors purchased a new stake in shares of Covanta in the second quarter valued at approximately $57,000. Institutional investors and hedge funds own 79.35% of the company’s stock.

About Covanta

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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Analyst Recommendations for Covanta (NYSE:CVA)

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