Covanta (NYSE:CVA) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Covanta from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Oppenheimer reissued a “buy” rating and set a $19.00 price target on shares of Covanta in a research note on Tuesday, December 19th. BMO Capital Markets increased their price target on Covanta from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, October 30th. Robert W. Baird reissued a “buy” rating and set a $19.00 price target on shares of Covanta in a research note on Wednesday, November 1st. Finally, Goldman Sachs Group raised Covanta from a “sell” rating to a “neutral” rating and set a $16.00 price target for the company in a research note on Sunday, January 7th. Three analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $18.00.
Shares of Covanta (NYSE CVA) opened at $14.45 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 8.39. Covanta has a 1 year low of $13.00 and a 1 year high of $17.30.
Covanta (NYSE:CVA) last released its earnings results on Thursday, February 22nd. The energy company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.11). Covanta had a negative return on equity of 13.62% and a net margin of 3.25%. The business had revenue of $495.00 million for the quarter, compared to analysts’ expectations of $462.71 million. During the same quarter in the prior year, the business posted $0.17 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. equities analysts predict that Covanta will post 0.04 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the company. Verition Fund Management LLC lifted its stake in shares of Covanta by 9.7% in the 2nd quarter. Verition Fund Management LLC now owns 11,779 shares of the energy company’s stock valued at $155,000 after purchasing an additional 1,039 shares during the last quarter. First Allied Advisory Services Inc. bought a new stake in shares of Covanta in the 3rd quarter valued at approximately $161,000. Fox Run Management L.L.C. bought a new stake in shares of Covanta in the 4th quarter valued at approximately $178,000. Cutler Group LP lifted its stake in shares of Covanta by 81.3% in the 4th quarter. Cutler Group LP now owns 12,490 shares of the energy company’s stock valued at $211,000 after purchasing an additional 5,601 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Covanta in the 4th quarter valued at approximately $214,000. 93.72% of the stock is owned by institutional investors and hedge funds.
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Covanta 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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