Covanta Holding Corp (CVA) was Downgraded by Robert W. Baird to ” Neutral” and the brokerage firm has set the Price Target at $17. Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Apr 29, 2016.
Many Wall Street Analysts have commented on Covanta Holding Corp. Company shares were Reiterated by Stifel on Mar 18, 2016 to “Buy”, Firm has raised the Price Target to $ 18.50 from a previous price target of $16.50 .Shares were Reiterated by Imperial Capital on Feb 18, 2016 to “Outperform” and Lowered the Price Target to $ 17 from a previous price target of $18.50 .Stifel Upgraded Covanta Holding Corp on Feb 18, 2016 to ” Buy”, Price Target of the shares are set at $16.50.
On the company’s financial health, Covanta Holding Corp reported $-0.19 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $-0.09. The company had revenue of $403.00 million for the quarter, compared to analysts expectations of $399.56 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.13 EPS.
Covanta Holding Corp closed down -0.46 points or -2.76% at $16.23 with 24,92,627 shares getting traded on Wednesday. Post opening the session at $16.44, the shares hit an intraday low of $15.77 and an intraday high of $16.44 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Mar 7, 2016, Robert S Silberman (director) purchased 2,077 shares at $14.98 per share price. According to the SEC, on Feb 22, 2016, Stephen J Jones (CEO) purchased 15,000 shares at $13.09 per share price. On Dec 15, 2015, Joseph M Holsten (director) purchased 35,000 shares at $14.43 per share price, according to the Form-4 filing with the securities and exchange commission.
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.