Covanta Holding Corp (CVA) was Initiated by Goldman to “Sell” and the brokerage firm has set the Price Target at $12.50. Goldman advised their Clients and Investors in a research report released on Mar 3, 2017.
Based on several research reports , Goldman Initiated Covanta Holding Corp on Mar 3, 2017 to “Sell”, Price Target of the shares are set at $12.50.Goldman Initiated Covanta Holding Corp on Mar 3, 2017 to “Sell”, Price Target of the shares are set at $12.50.Stifel Downgraded Covanta Holding Corp on Feb 13, 2017 to ” Hold”, Price Target of the shares are set at $16.50.Barclays Downgraded Covanta Holding Corp on Jan 19, 2017 to ” Equal Weight”, Price Target of the shares are set at $16.
On the company’s financial health, Covanta Holding Corp reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $0.14. The company had revenue of $421.00 million for the quarter, compared to analysts expectations of $421.43 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.
Several company insiders have filed Insider transactions , on Dec 14, 2016, Stephen J Jones (CEO) purchased 15,000 shares at $15.02 per share price. According to the SEC, on Dec 12, 2016, Joseph M Holsten (director) purchased 20,000 shares at $14.34 per share price. On Nov 16, 2016, Robert S Silberman (director) purchased 2,000 shares at $14.73 per share price, according to the Form-4 filing with the securities and exchange commission.
Covanta Holding Corp opened for trading at $16 and hit $16.35 on the upside on Monday, eventually ending the session at $16.25, with a gain of 1.56% or 0.25 points. The heightened volatility saw the trading volume jump to 13,93,667 shares. Company has a market cap of $2,119 M.
Covanta Holding Corporation is a holding company. Through its subsidiaries the Company owns and operates infrastructure for the conversion of waste to energy as well as other waste disposal and renewable energy production businesses. Energy-from-waste (EfW) serves two markets as both a sustainable waste management solution and as a source of clean energy. The Company operate and/or have ownership positions in 46 EfW facilities which are primarily located in North America and 11 additional energy generation facilities including other renewable energy production facilities in North America (wood biomass and hydroelectric). In total these assets produce approximately 10 million megawatt hours (MWh) of baseload electricity. The Company also operates a waste management infrastructure including 18 transfer stations. The Company also operates and in some cases has ownership interests in transfer stations and landfills.