Covia Holdings (CVIA) Expected to Announce Quarterly Sales of $489.05 Million
Brokerages forecast that Covia Holdings (NASDAQ:CVIA) will announce sales of $489.05 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Covia’s earnings. The highest sales estimate is $510.10 million and the lowest is $468.00 million. Covia posted sales of $508.42 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.8%. The firm is expected to report its next earnings report on Tuesday, August 13th.
According to Zacks, analysts expect that Covia will report full year sales of $1.94 billion for the current financial year, with estimates ranging from $1.82 billion to $2.08 billion. For the next financial year, analysts anticipate that the company will report sales of $2.09 billion, with estimates ranging from $1.86 billion to $2.35 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Covia.
Covia (NASDAQ:CVIA) last released its earnings results on Thursday, May 9th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.04). The business had revenue of $428.25 million during the quarter, compared to the consensus estimate of $443.83 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year.
NASDAQ:CVIA traded down $0.01 during trading hours on Thursday, reaching $2.91. 678,300 shares of the stock were exchanged, compared to its average volume of 463,413. Covia has a 52 week low of $2.75 and a 52 week high of $30.00.
Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Covia during the 4th quarter worth approximately $38,000. BNP Paribas Arbitrage SA raised its position in shares of Covia by 359.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,375 shares of the company’s stock worth $41,000 after purchasing an additional 5,771 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Covia during the 4th quarter worth approximately $77,000. Bank of America Corp DE raised its position in shares of Covia by 183.9% during the 4th quarter. Bank of America Corp DE now owns 29,952 shares of the company’s stock worth $102,000 after purchasing an additional 19,401 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in shares of Covia during the 4th quarter worth approximately $114,000.
Covia Company Profile
Covia Holdings Corporation provides minerals and material solutions for the industrial and energy markets. The company offers various mineral solutions to the glass, ceramics, coatings, polymers, construction, water filtration, sports, and recreation markets. It also offers a range of high-purity silica sand, nepheline syenite, feldspar, clay, kaolin, lime, resin systems, and coated materials.
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