Covanta Holding Corporation (NYSE:CVA) is projected to declare fiscal fourth quarter financial results right before the stock market’s official open on February 08, 2017. The stock added about 9.9 percent in price since last results when it was at $14.61 a share. Based on the most relevant past-periods data, there is an 57.14 percent probability for this firm’s share price to go down following next quarterly results. Earnings reaction history tells us that the equity price moved down 16 times out of last 28 reported quarters. It has beaten earnings-per-share estimates 41% of the time in its last 12 earnings reports. It fell short of earnings estimates on 7 occasions, and it has met expectations 0 time.
Here’s how traders responded to CVA earnings announcements over the past few quarters.
Covanta Holding Corporation (CVA) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was -125.28 percent over the past four quarters. Back on October 25, 2016, it posted earnings per-share earnings at $0.18 which beat the consensus $0.14 projection (positive surprise of28.57%. For the quarter, revenue came in at 421M versus consensus estimate of 421.43M. The stock dropped -0.34 percent the session following the earnings reports were released, and on 7th day price change was -4.38 percent.
On July 26, 2016, it reported earnings at $-0.22 a share compared with the consensus estimate of $-0.05 per share (negative surprise of -340%). Revenue of 418M for that quarter was above the $409.74M analysts had expected. The stock retreated -5.61% the day following the earnings announcement, and on 7th day price change was -6.95%.
On April 26, 2016, it recorded $-0.19 a share in earnings which missed the consensus estimate of $-0.09 (negative surprise of -111.11%). Revenue for the quarter was $403M while analysts called for revenues to be $400.33M. The stock dropped -2.76% the day following the earnings data was made public, and on 7th day price change was -1.63%.
On February 16, 2016, it announced earnings per share at $0.03 versus the consensus estimate of $0.14 per share (negative surprise of -78.57%). That came on revenues of $432M for that period. Analysts had expected $413.33M in revenue.
Covanta Holding Corporation Earnings Estimates
As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $-0.15. The analysts’ present consensus range is $-0.18-$-0.12 for EPS. The market consensus range for revenue is between $406M and $426.77M, with an average of $415.16M.
Covanta Holding Corporation (NYSE:CVA) last ended at $15.8, sending the company’s market cap near $2.05B. The consensus 12-month price target from analysts covering the stock is $17.19. The share price has declined -5.19% from its top level in 52 weeks and dropped 1.28% this year. It recently traded in a range of $15.7-$16.05 at a volume of 1006515 shares. The recent trading ended with the price nearly 1.28 higher for the last 5 trading days, rebounding 34.84% from its 52-week low.