ibusinesslines.com July 22, 2017

Stock in Limelight: Covanta Holding Corp (CVA)

17 July 2017, 05:40 | Charlene Valdez

On average, analysts expect that Covanta Holding Corporation will report full year sales of $419.63 million for the current fiscal year, with estimates ranging from $1.70 billion to $1.75 billion.

CVA has been the topic of a number of recent analyst reports. The stock of Covanta Holding Corp (NYSE:CVA) earned "Equal-Weight" rating by Barclays Capital on Tuesday, August 9. BidaskClub upgraded shares of Covanta Holding Corporation from a "sell" rating to a "hold" rating in a report on Wednesday, June 14th.

TRADEMARK VIOLATION NOTICE: "Covanta Holding Corporation (NYSE:CVA) Stake Decreased by TIAA CREF Investment Management LLC" was first reported by Markets Daily and is the sole property of of Markets Daily. The stock has "Hold" rating by Stifel Nicolaus on Monday, December 7.

Covanta Holding Corporation was upgraded to "overweight" by analysts at Barclays. The stock of Covanta Holding Corp (NYSE:CVA) earned "Outperform" rating by Imperial Capital on Thursday, October 29. Lastly, Tiedemann Wealth Management bought a new stake in stocks of Covanta Holding Corporation during the Q1 valued roughly $239,000. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $582,400. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronald J. Broglio sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 10th. Clearbridge Investments has an ownership of 11,989 stocks of the energy firms shares valued $188,000 after scooping up an extra 2,528 stocks in the previous period. The disclosure for this bought can be found here. Financial & Investment Management Group Ltd. raised its stake in Covanta Holding Corporation by 25.0% in the second quarter. The Stock becomes significant when you consider how many shares are shorted versus the average daily volume, means how many days to cover those short shares at that volume. Huntington National Bank increased its stake in shares of Covanta Holding Corporation by 3.2% in the first quarter.

In related news, insider Paul E. Stauder sold 2,500 shares of the company's stock in a transaction on Wednesday, May 24th. LLC now owns 16,039 shares of the energy company's stock worth $252,000 after buying an additional 94 shares in the last quarter. Wedbush Securities Inc. now owns 28,748 shares of the energy company's stock worth $451,000 after buying an additional 2,806 shares in the last quarter. The original version of this news story can be accessed at https://baseballnewssource.com/markets/somewhat-positive-media-coverage-somewhat-likely-to-impact-covanta-holding-corporation-nysecva-stock-price/1211663.html. If you are accessing this article on another publication, it was illegally copied and republished in violation of United States & global copyright & trademark law.

Shares of Covanta Holding Corporation (CVA) traded down 1.83% during mid-day trading on Friday, hitting $13.40. The company has market cap of $1.72 billion. Covanta Holding Corporation has a 1-year low of $13.00 and a 1-year high of $17.16.

It is now trading at $13.20 which is marginally under $14.26, the 50 day moving average and which is just a bit below the 200 day moving average of $15.16.

As analysts monitor volatile markets in recent weeks they have updated their price targets on shares of Covanta Holding Corporation (NYSE:CVA). Covanta Holding Corporation has a 1 year low of $13.00 has a 1 year high of $17.16. Revenue for the quarter also killed consensus, coming in at $404 Million, compared to the consensus of 399.69 Million. The stock has 5 year expected PEG ratio of 0 whereas its trailing twelve month P/E ratio is 0. Covanta Holding Corporation's quarterly revenue was up.2% on a year-over-year basis. Previously Covanta Holding Corp (NYSE:CVA) reported $-0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $-0.21 by $-0.16 with surprise factor of -76.2%.

The company also recently declared a quarterly dividend, which was paid on Friday, July 7th. Shareholders of record on Thursday, June 29th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tue, Jun 27th. The dividend yield was $7.52.

08/26/2016 - Covanta Holding Corporation had its "neutral" rating reiterated by analysts at Macquarie.

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