Covanta Holding Corporation (NYSE:CVA) issued its quarterly earnings results on Thursday. The energy company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04, Bloomberg Earnings reports. The firm had revenue of $429.00 million for the quarter, compared to analyst estimates of $421.87 million. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS.
Shares of Covanta Holding Corporation (CVA) traded up 4.59% during midday trading on Friday, reaching $15.95. 2,463,860 shares of the company’s stock were exchanged. Covanta Holding Corporation has a 12-month low of $13.00 and a 12-month high of $16.50. The stock’s 50 day moving average is $14.87 and its 200-day moving average is $14.37. The stock’s market cap is $2.07 billion.
The company also recently declared a quarterly dividend, which was paid on Friday, October 6th. Shareholders of record on Thursday, September 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date of this dividend was Wednesday, September 27th. Covanta Holding Corporation’s dividend payout ratio (DPR) is presently -526.29%.
A number of brokerages have recently commented on CVA. BidaskClub lowered shares of Covanta Holding Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Zacks Investment Research lowered shares of Covanta Holding Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Covanta Holding Corporation in a report on Monday, July 17th. BMO Capital Markets raised shares of Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $16.00 to $17.00 in a report on Monday, July 31st. Finally, Stifel Nicolaus raised shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and increased their price target for the stock from $15.50 to $17.00 in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $17.06.
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About Covanta Holding Corporation
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.
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