Imperial Capital Maintains Covanta Holding Corp to Outperform with Price Target $18.00

Brokerage firm Imperial Capital Maintains its rating on Covanta Holding Corp(NYSE:CVA). In a research note issued to the investors, the brokerage major Lowers the price-target to $18.00 per share. The shares have been rated Outperform. The rating by Imperial Capital was issued on Jul 28, 2016.

Covanta Holding Corp (CVA) shares turned negative on Thursdays trading session with the shares closing down -0.52 points or -3.30% at a volume of 11,74,549. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.82. The peak price level was also seen at $15.82 while the days lowest was $15.165. Finally the shares closed at $15.26. The 52-week high of the shares is $20.94 while the 52-week low is $12.48. According to the latest information available, the market cap of the company is $1,990 M.

Covanta Holding Corp(CVA) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $418.00M. Analysts had an estimated revenue of $410.38M. Earnings per share were $-0.22. Analysts had estimated an EPS of $-0.04.

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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