Covia Holdings (CVIA) Expected to Post Quarterly Sales of $462.50 Million
Wall Street brokerages expect Covia Holdings (NASDAQ:CVIA) to post sales of $462.50 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Covia’s earnings, with estimates ranging from $446.00 million to $501.00 million. The company is scheduled to report its next earnings report before the market opens on Thursday, March 21st.
According to Zacks, analysts expect that Covia will report full-year sales of $2.17 billion for the current financial year, with estimates ranging from $1.75 billion to $2.38 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.03 billion, with estimates ranging from $1.83 billion to $2.21 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Covia.
Several research firms have weighed in on CVIA. Zacks Investment Research raised Covia from a “sell” rating to a “hold” rating in a research report on Thursday, December 13th. B. Riley cut their price objective on Covia from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 20th. Cowen cut Covia from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 17th. Credit Suisse Group cut their price objective on Covia from $7.50 to $6.00 and set an “underperform” rating on the stock in a research report on Thursday, November 15th. Finally, OTR Global cut Covia from a “positive” rating to a “negative” rating in a research report on Friday, December 21st. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $12.55.
Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its stake in shares of Covia by 443.0% in the third quarter. FMR LLC now owns 1,141,466 shares of the company’s stock valued at $10,239,000 after buying an additional 931,266 shares during the period. MetLife Investment Advisors LLC bought a new stake in shares of Covia in the third quarter valued at $211,000. Virtu Financial LLC bought a new stake in shares of Covia in the fourth quarter valued at $38,000. Jane Street Group LLC bought a new stake in shares of Covia in the third quarter valued at $204,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Covia by 84.3% in the third quarter. Bank of New York Mellon Corp now owns 3,385,908 shares of the company’s stock valued at $30,372,000 after buying an additional 1,548,743 shares during the period.
Covia Holdings Corporation provides minerals and material solutions for the industrial and energy markets. The company offers various mineral solutions to the glass, ceramics, coatings, polymers, construction, water filtration, sports, and recreation markets. It also offers a range of high-purity silica sand, nepheline syenite, feldspar, clay, kaolin, lime, resin systems, and coated materials.
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