Covanta Holding Corporation (NYSE:CVA) in recent session today was buoying at a rise of 14.24% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $7.62 and 5Y monthly beta was reading 1.39 with its price kept floating in the range of $8.35 and $9.00 on the day. Company’s P/E ratio for the trailing 12 months is 0. Considering stock’s 52-week price range provides that CVA hit a high price of $16.13 and saw its price falling to a low level of $6.57 during that period. Over a period of past 1-month, stock came losing -1.68% in its value.
With its current market valuation of $985.65 Million, Covanta Holding Corporation is set to declare its quarterly results on October 29, 2020. CVA Stock’s Forward Dividend of 0.32 and its yield of 0.042 are making investors’ thoughts stronger that it could climb further before the company announces its earnings for the current quarter. Analysts are in estimates of -$0.02 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving down to -$0.37 for 2020 with estimates of that growing to -$0.07 in next year. These estimates are suggesting current year growth of -6.29% for EPS and -0.81% growth next year.
Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $465.7 Million. They suggested that in the process company could generate revenue of as low as $457Million which could climb up to $474.4 Million to hit a high. The average estimate is representing an increase of 0.2% in sales growth from that of posted by the company in the same quarter of last year. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $1.87 Billion in 2020, which will be +0.2% more from revenue generated by the company last year.
In contrast, when we review CVA stock’s current outlook then short term indicators are assigning it an average of 50% Sell, while medium term indicators are categorizing the stock at an average of 50% Sell. Long term indicators are suggesting an average of 100% Sell for it.
In comparing Covanta Holding Corporation (CVA)’s stock with other industry players reveals that stock’s latest price change of +14.24% and that of -47.66% over the past 12 months is in competing position with that of Equinor ASA (EQNR) which saw its stock price fell by -0.08% in the recent trading and went through a decline of -31.35% in past 12-month trading. Industry’s another major player Tc Energy Corp (TRP) has fell -0.81% down in latest trading session, but over the past year has faced a fall of -21.34%, while Evergy Inc (EVRG) is also up 14.24% however its price remained floating in the red at -47.66% over the same period. Covanta Holding Corporation has a P/E ratio of 0 against that of Equinor ASA’s 0 while Tc Energy Corp is showing 11.44 for the same. On the other hand, the S&P 500 Index was down -1.26% in the early deals while the Dow Jones Industrial was dealing lower at -0.93%.
Having a second look at Covanta Holding Corporation (NYSE:CVA) provides that stock’s average daily trading volume for 3 months was 845.35 Million, while it dropped to 705.3 Million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock currently stood at 131.98 Million.
Data compiled by Thomson Reuters highlights that percentage of outstanding shares held by the insiders is 1.26% while it is 82.75% for the institutional holders. The figures also indicate that as of October 14, 2020, number of stock’s short shares was 2540000 which implies a short ratio of 3.26. This shows up a 1.92% of Short Interest in company’s outstanding shares on the day. In October the standing of shares short declined as it was 2.64 Million in the previous month. Drop of -48.65% by stock’s current price to its year-to-date value in today’s trading is likely to be increasing investors’ worries about the stock as it is hinting a further drop.