Revenue Update on Covanta Holding Corp(NYSE:CVA)

Covanta Holding Corp(NYSE:CVA) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $418.00M. Analysts estimated a revenue of $410.38M. Earnings per share were $-0.22. Analysts had estimated an EPS of $-0.04.

In a different note, On Apr 29, 2016, Baird said it Downgrades its rating on Covanta Holding Corp. The shares have been rated ‘Neutral’ by the firm.

Covanta Holding Corp (CVA) made into the market gainers list on Fridays trading session with the shares advancing 0.13% or 0.02 points. Due to strong positive momentum, the stock ended at $16.02, which is also near the day’s high of $16.05. The stock began the session at $15.94 and the volume stood at 13,60,774 shares. The 52-week high of the shares is $20.94 and the 52 week low is $12.48. The company has a current market capitalization of $2,092 M and it has 13,06,12,402 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Mar 7, 2016, Robert S Silberman (director) purchased 2,077 shares at $14.98 per share price.Also, On Feb 22, 2016, Stephen J Jones (CEO) purchased 15,000 shares at $13.09 per share price.On Dec 15, 2015, Joseph M Holsten (director) purchased 35,000 shares at $14.43 per share price, according to the Form-4 filing with the securities and exchange commission.

Covanta Holding Corporation is a holding company. Through its subsidiaries the Company owns and operates infrastructure for the conversion of waste to energy as well as other waste disposal and renewable energy production businesses. Energy-from-waste (EfW) serves two markets as both a sustainable waste management solution and as a source of clean energy. The Company operate and/or have ownership positions in 46 EfW facilities which are primarily located in North America and 11 additional energy generation facilities including other renewable energy production facilities in North America (wood biomass and hydroelectric). In total these assets produce approximately 10 million megawatt hours (MWh) of baseload electricity. The Company also operates a waste management infrastructure including 18 transfer stations. The Company also operates and in some cases has ownership interests in transfer stations and landfills.

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