Covanta (NYSE:CVA) released its earnings results on Thursday. The energy company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.11), Fidelity Earnings reports. The firm had revenue of $456.00 million during the quarter, compared to analysts’ expectations of $449.75 million. Covanta had a net margin of 14.71% and a negative return on equity of 1.28%.
Shares of Covanta stock opened at $14.36 on Friday. Covanta has a one year low of $14.15 and a one year high of $18.05. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 4.26.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Friday, September 28th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 27th. This represents a $1.00 dividend on an annualized basis and a yield of 6.96%. Covanta’s payout ratio is -270.27%.
In related news, insider Paul E. Stauder sold 2,000 shares of Covanta stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $17.53, for a total transaction of $35,060.00. Following the transaction, the insider now owns 42,025 shares in the company, valued at $736,698.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 11.60% of the company’s stock.
Covanta Company Profile
Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses.
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