Covanta Holding Corp (NYSE:CVA) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $17.00.
CVA has been the subject of several research analyst reports. TheStreet raised Zimmer Biomet from a “c” rating to a “b-” rating in a report on Friday, April 26th. Macquarie began coverage on Rollins in a research report on Monday, April 29th. They issued a “neutral” rating and a $38.90 price target for the company. Zacks Investment Research cut Par Pacific from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, UBS Group restated a “hold” rating on shares of Deutsche Bank in a research report on Thursday, April 4th.
In related news, VP Timothy Simpson sold 44,116 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $17.78, for a total transaction of $784,382.48. Following the sale, the vice president now owns 133,582 shares of the company’s stock, valued at $2,375,087.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald J. Broglio sold 6,500 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $17.72, for a total value of $115,180.00. Following the sale, the director now directly owns 6,487 shares in the company, valued at approximately $114,949.64. The disclosure for this sale can be found here. 11.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of Covanta by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 1,243,392 shares of the energy company’s stock worth $16,686,000 after acquiring an additional 90,234 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Covanta by 110.0% during the fourth quarter. Two Sigma Investments LP now owns 66,624 shares of the energy company’s stock worth $894,000 after acquiring an additional 34,895 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Covanta by 84.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 59,913 shares of the energy company’s stock worth $804,000 after acquiring an additional 27,501 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Covanta by 372.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 38,694 shares of the energy company’s stock worth $519,000 after acquiring an additional 30,511 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of Covanta by 17.8% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 330,099 shares of the energy company’s stock worth $4,430,000 after acquiring an additional 49,854 shares during the last quarter. 79.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:CVA opened at $17.24 on Wednesday. The stock’s 50-day simple moving average is $17.74. The company has a debt-to-equity ratio of 5.56, a current ratio of 1.23 and a quick ratio of 1.23. Covanta has a 1 year low of $12.92 and a 1 year high of $18.38. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -172.40, a PEG ratio of 5.90 and a beta of 1.31.
Covanta (NYSE:CVA) last released its earnings results on Thursday, July 25th. The energy company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.07). The firm had revenue of $467.00 million for the quarter, compared to analysts’ expectations of $467.05 million. Covanta had a negative return on equity of 3.11% and a negative net margin of 1.81%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.01) earnings per share. As a group, equities analysts forecast that Covanta will post 0.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date was Thursday, June 27th. Covanta’s payout ratio is currently -1,000.00%.
Covanta Company Profile
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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