Covanta Holding Corp (CVA) reported quarterly earnings results on Tuesday, Apr-26-2016. The company reported $-0.19 earnings per share for the quarter, missing the analyst consensus estimate by $-0.10. Analysts had a consensus of $-0.09. The company posted revenue of $403.00 million in the period, 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.
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.
Covanta Holding Corp opened for trading at $16.49 and hit $16.88 on the upside on Friday, eventually ending the session at $16.77, with a gain of 1.70% or 0.28 points. The heightened volatility saw the trading volume jump to 7,01,222 shares. Company has a market cap of $2,178 M.
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.