Covanta Holding Corporation (CVA) Receives Buy Rating from Robert W. Baird

Robert W. Baird reaffirmed their buy rating on shares of Covanta Holding Corporation (NYSE:CVA) in a research report sent to investors on Wednesday morning. They currently have a $19.00 price objective on the energy company’s stock.

CVA has been the topic of several other research reports. Zacks Investment Research upgraded Covanta Holding Corporation from a hold rating to a buy rating and set a $17.00 price target on the stock in a report on Monday, October 9th. Stifel Nicolaus reiterated a buy rating and set a $17.00 price target on shares of Covanta Holding Corporation in a report on Tuesday, September 5th. BidaskClub downgraded Covanta Holding Corporation from a hold rating to a sell rating in a report on Friday, August 11th. BMO Capital Markets increased their price target on Covanta Holding Corporation from $17.00 to $20.00 and gave the company an outperform rating in a report on Monday. Finally, Oppenheimer Holdings, Inc. reiterated a buy rating on shares of Covanta Holding Corporation in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $17.69.

Covanta Holding Corporation (NYSE:CVA) last announced its quarterly earnings results on Thursday, October 26th. The energy company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. Covanta Holding Corporation had a negative return on equity of 12.66% and a negative net margin of 3.68%. The company had revenue of $429.00 million for the quarter, compared to the consensus estimate of $421.87 million. During the same quarter last year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Thursday, September 28th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $1.00 annualized dividend and a dividend yield of 6.21%. Covanta Holding Corporation’s payout ratio is -200.00%.

Several institutional investors have recently made changes to their positions in the company. Wellington Shields & Co. LLC grew its stake in shares of Covanta Holding Corporation by 0.4% in the second quarter. Wellington Shields & Co. LLC now owns 16,110 shares of the energy company’s stock worth $213,000 after acquiring an additional 71 shares during the last quarter. Citigroup Inc. grew its stake in shares of Covanta Holding Corporation by 1.0% in the second quarter. Citigroup Inc. now owns 16,236 shares of the energy company’s stock worth $214,000 after acquiring an additional 159 shares during the last quarter. Lee Financial Co grew its stake in shares of Covanta Holding Corporation by 0.7% in the second quarter. Lee Financial Co now owns 66,756 shares of the energy company’s stock worth $881,000 after acquiring an additional 450 shares during the last quarter. Viking Fund Management LLC grew its stake in shares of Covanta Holding Corporation by 1.3% in the second quarter. Viking Fund Management LLC now owns 52,600 shares of the energy company’s stock worth $694,000 after acquiring an additional 700 shares during the last quarter. Finally, Verition Fund Management LLC grew its stake in shares of Covanta Holding Corporation by 9.7% in the second quarter. Verition Fund Management LLC now owns 11,779 shares of the energy company’s stock worth $155,000 after acquiring an additional 1,039 shares during the last quarter. Institutional investors and hedge funds own 96.57% of the company’s stock.

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.

Analyst Recommendations for Covanta Holding Corporation (NYSE:CVA)

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