Covanta Holding Corp (CVA) was Initiated by Macquarie to “Neutral” and the brokerage firm has set the Price Target at $18. Macquarie advised their investors in a research report released on Aug 26, 2016.
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 opened for trading at $14.9 and hit $14.97 on the upside on Tuesday, eventually ending the session at $14.83, with a gain of 0.07% or 0.01 points. The heightened volatility saw the trading volume jump to 5,84,610 shares. Company has a market cap of $1,934 M.
In a different news, on Jul 28, 2016, Ronald J Broglio (director) sold 4,500 shares at $15.78 per share price. According to the SEC, on Mar 7, 2016, Robert S Silberman (director) purchased 2,077 shares at $14.98 per share price. On Feb 22, 2016, Stephen J Jones (CEO) purchased 15,000 shares at $13.09 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.