The Covanta Holding Corp (CVA) Raised to “Outperform” at Robert W. Baird

The Covanta Holding Corp (CVA) Raised to “Outperform” at Robert W. Baird

Other equities analysts have also issued research reports about the stock. Oppenheimer Holdings Inc. set a $20.00 price target on shares of Covanta Holding Corp and gave the company a “buy” rating in a report on Saturday, February 18th. Stifel Nicolaus lowered shares of Covanta Holding Corp from a “buy” rating to a “hold” rating and set a $16.50 price target for the company. in a report on Monday, February 13th. Wedbush reissued an “outperform” rating and issued a $21.00 price target on shares of Covanta Holding Corp in a report on Tuesday, March 14th. Goldman Sachs Group Inc began coverage on shares of Covanta Holding Corp in a report on Friday, March 3rd. They issued a “sell” rating and a $12.50 price target for the company. Finally, Zacks Investment Research raised shares of Covanta Holding Corp from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Monday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $17.44.

Covanta Holding Corp (NYSE:CVA) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued on Monday, May 15th. The firm presently has a $17.00 target price on the energy company’s stock. Robert W. Baird’s target price would indicate a potential upside of 14.09% from the stock’s current price.

Shares of Covanta Holding Corp (CVA) opened at 14.90 on Monday. Covanta Holding Corp has a 12 month low of $13.45 and a 12 month high of $17.16. The firm’s market cap is $1.92 billion. The stock has a 50 day moving average price of $14.57 and a 200 day moving average price of $15.25.

Covanta Holding Corp (NYSE:CVA) last announced its quarterly earnings results on Tuesday, April 25th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by $0.16. Covanta Holding Corp had a net margin of 3.88% and a negative return on equity of 4.97%. The firm had revenue of $404 million during the quarter, compared to analyst estimates of $399.69 million. During the same period last year, the firm earned ($0.19) EPS. Covanta Holding Corp’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that Covanta Holding Corp will post ($0.11) EPS for the current year. The business also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Thursday, June 29th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date of this dividend is Tuesday, June 27th. Covanta Holding Corp’s payout ratio is presently 208.34%.

Covanta Holding Corp (NYSE:CVA) last announced its quarterly earnings results on Tuesday, April 25th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by $0.16. Covanta Holding Corp had a net margin of 3.88% and a negative return on equity of 4.97%. The firm had revenue of $404 million during the quarter, compared to analyst estimates of $399.69 million. During the same period last year, the firm earned ($0.19) EPS. Covanta Holding Corp’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that Covanta Holding Corp will post ($0.11) EPS for the current year. In other news, Director Ronald J. Broglio sold 3,000 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $14.33, for a total transaction of $42,990.00. Following the completion of the transaction, the director now directly owns 8,672 shares in the company, valued at approximately $124,269.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephen J. Jones acquired 10,000 shares of Covanta Holding Corp stock in a transaction dated Thursday, April 27th. The shares were acquired at an average price of $14.48 per share, with a total value of $144,800.00. Following the completion of the purchase, the insider now owns 167,232 shares in the company, valued at $2,421,519.36. The disclosure for this purchase can be found here. 11.80% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new position in Covanta Holding Corp during the third quarter worth approximately $1,670,000. Advisors Asset Management Inc. increased its position in Covanta Holding Corp by 7.0% in the third quarter. Advisors Asset Management Inc. now owns 1,517,338 shares of the energy company’s stock worth $23,352,000 after buying an additional 99,798 shares in the last quarter. Wellington Shields Capital Management LLC increased its position in Covanta Holding Corp by 4.5% in the third quarter. Wellington Shields Capital Management LLC now owns 76,100 shares of the energy company’s stock worth $1,171,000 after buying an additional 3,250 shares in the last quarter. Wellington Shields & Co. LLC increased its position in Covanta Holding Corp by 0.6% in the third quarter. Wellington Shields & Co. LLC now owns 15,846 shares of the energy company’s stock worth $244,000 after buying an additional 89 shares in the last quarter. Finally, Markston International LLC increased its position in Covanta Holding Corp by 0.3% in the third quarter. Markston International LLC now owns 193,286 shares of the energy company’s stock worth $2,974,000 after buying an additional 600 shares in the last quarter. Institutional investors own 81.57% of the company’s stock. About Covanta Holding Corp

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CVA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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