Equities research analysts expect Covanta Holding Corp (NYSE:CVA) to announce $465.83 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Covanta’s earnings, with estimates ranging from $463.50 million to $470.00 million. Covanta reported sales of $456.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.2%. The company is expected to issue its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Covanta will report full-year sales of $1.87 billion for the current financial year, with estimates ranging from $1.86 billion to $1.89 billion. For the next year, analysts expect that the company will post sales of $1.92 billion, with estimates ranging from $1.87 billion to $1.95 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Covanta.

Covanta (NYSE:CVA) last released its quarterly earnings data on Thursday, July 25th. The energy company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.07). The firm had revenue of $467.00 million during the quarter, compared to the consensus estimate of $467.05 million. Covanta had a negative return on equity of 3.22% and a negative net margin of 1.81%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) EPS.

CVA has been the topic of a number of recent analyst reports. TheStreet downgraded Covanta from a “b-” rating to a “c” rating in a research report on Friday, April 26th. Zacks Investment Research upgraded Covanta from a “strong sell” rating to a “hold” rating and set a $14.00 price target on the stock in a research report on Wednesday, July 31st. Finally, Macquarie initiated coverage on Covanta in a report on Monday, April 29th. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Covanta currently has an average rating of “Buy” and a consensus target price of $17.00.

NYSE:CVA traded up $0.04 during mid-day trading on Friday, hitting $17.02. 422,900 shares of the company’s stock traded hands, compared to its average volume of 700,504. The company has a fifty day moving average of $17.25 and a 200 day moving average of $17.33. Covanta has a twelve month low of $12.92 and a twelve month high of $18.38. The company has a market capitalization of $2.25 billion, a P/E ratio of -170.20, a P/E/G ratio of 20.98 and a beta of 1.31. The company has a debt-to-equity ratio of 6.19, a quick ratio of 1.30 and a current ratio of 1.30.

In other news, EVP Castro Michael Joseph De sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $17.08, for a total transaction of $170,800.00. Following the completion of the transaction, the executive vice president now directly owns 90,203 shares in the company, valued at $1,540,667.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul E. Stauder sold 2,996 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $17.25, for a total value of $51,681.00. Following the transaction, the insider now owns 51,599 shares of the company’s stock, valued at $890,082.75. The disclosure for this sale can be found here. 11.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in Covanta in the second quarter valued at $33,000. Strs Ohio purchased a new position in Covanta in the second quarter valued at $48,000. Advisory Services Network LLC boosted its holdings in Covanta by 80.2% in the second quarter. Advisory Services Network LLC now owns 2,795 shares of the energy company’s stock valued at $50,000 after purchasing an additional 1,244 shares during the period. TRUE Private Wealth Advisors purchased a new position in Covanta in the second quarter valued at $57,000. Finally, NumerixS Investment Technologies Inc boosted its holdings in Covanta by 34.5% in the first quarter. NumerixS Investment Technologies Inc now owns 9,600 shares of the energy company’s stock valued at $166,000 after purchasing an additional 2,464 shares during the period. Institutional investors and hedge funds own 78.45% of the company’s stock.

About Covanta

Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses.

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Earnings History and Estimates for Covanta (NYSE:CVA)

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