Covanta Holding Corporation (NYSE:CVA) posted its quarterly earnings results on Thursday. The energy company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04, Bloomberg Earnings reports. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The firm had revenue of $429.00 million during the quarter, compared to the consensus estimate of $421.87 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis.
Shares of Covanta Holding Corporation (NYSE:CVA) traded up 4.59% during trading on Friday, reaching $15.95. 2,463,860 shares of the company were exchanged. The firm has a 50-day moving average price of $14.87 and a 200-day moving average price of $14.37. The stock’s market capitalization is $2.07 billion. Covanta Holding Corporation has a 1-year low of $13.00 and a 1-year high of $16.50.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Thursday, September 28th were paid 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 -526.29%.
Several analysts have recently weighed in on the stock. BidaskClub downgraded shares of Covanta Holding Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Zacks Investment Research
downgraded shares of Covanta Holding Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Covanta Holding Corporation in a research note on Monday, July 17th. BMO Capital Markets raised shares of Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $16.00 to $17.00 in a research note on Monday, July 31st. Finally, Stifel Nicolaus raised shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $15.50 to $17.00 in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $17.06.
TRADEMARK VIOLATION WARNING: “Covanta Holding Corporation (CVA) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS” was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The legal version of this article can be read at https://www.dispatchtribunal.com/2017/10/28/covanta-holding-corporation-cva-releases-quarterly-earnings-results-beats-expectations-by-0-04-eps.html.
Covanta Holding Corporation Company Profile
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.
Receive News & Ratings for Covanta Holding Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covanta Holding Corporation and related companies with MarketBeat.com's FREE daily email newsletter.