Positive News Coverage Somewhat Unlikely to Affect Covanta Holding Corporation (CVA) Share Price
Media stories about Covanta Holding Corporation (NYSE:CVA) have been trending positive on Monday, Accern Sentiment reports. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Covanta Holding Corporation earned a news impact score of 0.26 on Accern’s scale. Accern also assigned headlines about the energy company an impact score of 45.7496410467719 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern Sentiment’s rankings:
- BlackLine, Inc. (NasdaqGS:BL), Covanta Holding Corporation (NYSE:CVA): VC in The Spotlight – Evergreen Caller (evergreencaller.com)
- Covanta Holding Corporation (NYSE:CVA) Trading Volume Significantly Higher – First News 24 (firstnewspaper24.com)
- Desirable Stock among many Investors:: Covanta Holding Corporation (CVA) – Voice Of Analysts (analystsbuzz.com)
- Covanta Holding Corporation (CVA) Given Consensus Rating of “Hold” by Analysts (americanbankingnews.com)
- Covanta Holding Corporation (NYSE:CVA) Can’t Be More Risky. Short Interest Increased (wisdomsave.com)
Several equities research analysts have issued reports on CVA shares. Robert W. Baird raised Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 price target for the company in a research note on Monday, May 15th. Barclays PLC raised Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $16.00 to $15.00 in a research note on Wednesday, July 12th. BMO Capital Markets started coverage on Covanta Holding Corporation in a research note on Thursday, June 29th. They set a “market perform” rating and a $16.00 price target for the company. Zacks Investment Research lowered Covanta Holding Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Finally, BidaskClub raised Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.28.
Shares of Covanta Holding Corporation (NYSE CVA) opened at 14.40 on Monday. The stock has a 50 day moving average price of $13.75 and a 200-day moving average price of $14.83. Covanta Holding Corporation has a 1-year low of $13.00 and a 1-year high of $16.50. The company’s market cap is $1.87 billion.
Covanta Holding Corporation (NYSE:CVA) last issued its quarterly earnings data on Thursday, July 27th. The energy company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.04. The firm had revenue of $424 million for the quarter, compared to analysts’ expectations of $416.18 million. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.22) EPS. Equities research analysts forecast that Covanta Holding Corporation will post ($0.23) earnings per share for the current year.
In related news, Director Ronald J. Broglio sold 3,000 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $14.33, for a total value of $42,990.00. Following the completion of the transaction, the director now owns 8,672 shares of the company’s stock, valued at approximately $124,269.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul E. Stauder sold 2,500 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $14.50, for a total transaction of $36,250.00. Following the completion of the transaction, the insider now directly owns 30,639 shares of the company’s stock, valued at approximately $444,265.50. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by company insiders.
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About Covanta Holding Corporation
Covanta Holding Corporation is a holding company. The Company, through its subsidiaries, owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. The Company operates through North America segment, which consists of waste and energy services operations located primarily in the United States and Canada.
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