Did they just beat EPS? Covanta (NYSE:CVA)

Earnings results for Covanta (NYSE:CVA)

Our vendor, Zacks Investment Research, hasn’t provided us with the upcoming earnings report date.

Covanta last issued its earnings data on July 28th, 2021. The energy company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.12. Covanta has generated ($0.21) earnings per share over the last year and currently has a price-to-earnings ratio of 500.1. Covanta has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, July 29th, 2021 based off prior year’s report dates.

Analyst Opinion on Covanta (NYSE:CVA)

5 Wall Street analysts have issued ratings and price targets for Covanta in the last 12 months. Their average twelve-month price target is $17.38, predicting that the stock has a possible downside of 13.13%. The high price target for CVA is $20.25 and the low price target for CVA is $13.00. There are currently 3 hold ratings and 2 buy ratings for the stock, resulting in a consensus rating of “Hold.”

Covanta has received a consensus rating of Hold. The company’s average rating score is 2.40, and is based on 2 buy ratings, 3 hold ratings, and no sell ratings. According to analysts’ consensus price target of $17.38, Covanta has a forecasted downside of 13.1% from its current price of $20.00. Covanta has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: Covanta (NYSE:CVA)

Covanta pays a meaningful dividend of 1.60%, higher than the bottom 25% of all stocks that pay dividends. Covanta has only been increasing its dividend for 1 years. Based on EPS estimates, Covanta will have a dividend payout ratio of 133.33% in the coming year. This indicates that Covanta may not be able to sustain their current dividend.

Insiders buying/selling: Covanta (NYSE:CVA)

In the past three months, Covanta insiders have not sold or bought any company stock. Only 10.90% of the stock of Covanta is held by insiders. 77.94% of the stock of Covanta is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Covanta (NYSE:CVA

Earnings for Covanta are expected to grow by 4.35% in the coming year, from $0.23 to $0.24 per share. The P/E ratio of Covanta is 500.13, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 22.13. The P/E ratio of Covanta is 500.13, which means that it is trading at a more expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 20.94. Covanta has a P/B Ratio of 8.51. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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