Shares of Covanta Holding Corp (NYSE:CVA) have earned a consensus recommendation of “Hold” from the ten analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $16.83.

Several equities research analysts recently issued reports on CVA shares. Jefferies Financial Group assumed coverage on Covanta in a report on Wednesday, November 27th. They issued a “hold” rating and a $16.00 price objective on the stock. Raymond James cut Covanta from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. ValuEngine downgraded Covanta from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Barclays reiterated a “hold” rating and set a $16.00 price target on shares of Covanta in a research note on Tuesday, October 29th.

A number of hedge funds have recently modified their holdings of the business. Sandy Spring Bank purchased a new position in shares of Covanta in the 3rd quarter valued at about $30,000. Point72 Hong Kong Ltd acquired a new position in shares of Covanta during the second quarter worth about $33,000. Strs Ohio purchased a new stake in shares of Covanta during the second quarter worth approximately $48,000. Advisory Services Network LLC increased its stake in shares of Covanta by 80.2% during the second quarter. Advisory Services Network LLC now owns 2,795 shares of the energy company’s stock worth $50,000 after buying an additional 1,244 shares during the period. Finally, TRUE Private Wealth Advisors acquired a new stake in Covanta in the second quarter valued at approximately $57,000. 79.35% of the stock is owned by institutional investors.

Shares of CVA stock traded up $0.10 during trading hours on Tuesday, hitting $14.70. The company had a trading volume of 496,500 shares, compared to its average volume of 744,256. The company has a debt-to-equity ratio of 6.85, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $1.92 billion, a PE ratio of -147.00, a price-to-earnings-growth ratio of 19.61 and a beta of 1.26. The company’s fifty day moving average is $14.91 and its 200 day moving average is $16.72. Covanta has a fifty-two week low of $12.92 and a fifty-two week high of $18.38.

Covanta (NYSE:CVA) last posted its earnings results on Thursday, October 24th. The energy company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.06. Covanta had a net margin of 0.37% and a return on equity of 0.69%. The firm had revenue of $465.00 million during the quarter, compared to the consensus estimate of $464.96 million. During the same quarter last year, the firm earned ($0.04) EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts forecast that Covanta will post 0.05 earnings per share for the current year.

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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Analyst Recommendations for Covanta (NYSE:CVA)

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