Shares of Covanta Holding Corp (NYSE:CVA) have earned a consensus rating of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $11.44.

Several analysts have issued reports on the company. Zacks Investment Research cut Covanta from a “hold” rating to a “sell” rating and set a $10.00 price objective on the stock. in a research note on Thursday, June 11th. Stifel Nicolaus upgraded Covanta from a “sell” rating to a “hold” rating and set a $9.50 price target on the stock in a research report on Sunday, May 10th. Oppenheimer reiterated a “buy” rating and set a $10.00 price target on shares of Covanta in a research report on Friday, May 22nd. UBS Group upgraded Covanta from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $14.00 to $13.00 in a research report on Wednesday, May 13th. Finally, BMO Capital Markets decreased their price objective on Covanta to $7.00 and set a “market perform” rating for the company in a report on Sunday, April 19th.

NYSE CVA traded up $0.12 on Friday, hitting $9.49. 22,715 shares of the stock traded hands, compared to its average volume of 1,101,844. The stock has a 50-day moving average of $9.20 and a 200 day moving average of $11.51. Covanta has a twelve month low of $6.57 and a twelve month high of $18.24. The company has a market capitalization of $1.24 billion, a P/E ratio of -45.24 and a beta of 1.23. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 8.35.

Covanta (NYSE:CVA) last announced its quarterly earnings data on Thursday, May 7th. The energy company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.02). Covanta had a negative net margin of 1.43% and a negative return on equity of 7.34%. The firm had revenue of $468.00 million for the quarter, compared to analyst estimates of $458.18 million. During the same quarter in the previous year, the company earned $0.03 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts expect that Covanta will post -0.37 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Thursday, June 25th. Covanta’s dividend payout ratio is presently 457.14%.

In other news, Director Ronald J. Broglio sold 6,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $9.78, for a total transaction of $58,680.00. Following the completion of the sale, the director now directly owns 13,567 shares of the company’s stock, valued at approximately $132,685.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Covanta by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,860,028 shares of the energy company’s stock worth $41,554,000 after acquiring an additional 220,073 shares in the last quarter. Norges Bank bought a new stake in shares of Covanta during the 4th quarter worth $63,884,000. State Street Corp boosted its stake in shares of Covanta by 2.5% during the 4th quarter. State Street Corp now owns 2,577,590 shares of the energy company’s stock worth $38,895,000 after acquiring an additional 64,033 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Covanta by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,693,361 shares of the energy company’s stock valued at $25,129,000 after purchasing an additional 238,961 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Covanta by 6.1% in the first quarter. Geode Capital Management LLC now owns 1,620,003 shares of the energy company’s stock valued at $13,851,000 after purchasing an additional 93,041 shares in the last quarter. 72.41% of the stock is owned by institutional investors and hedge funds.

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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