Analysts Anticipate Covia Holdings (NASDAQ:CVIA) Will Post Earnings of -$0.40 Per Share

Analysts expect that Covia Holdings (NASDAQ:CVIA) will report ($0.40) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Covia’s earnings, with the lowest EPS estimate coming in at ($0.48) and the highest estimate coming in at ($0.35). Covia reported earnings of ($0.39) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 2.6%. The firm is expected to announce its next quarterly earnings results on Thursday, March 19th.

According to Zacks, analysts expect that Covia will report full year earnings of ($1.11) per share for the current fiscal year, with EPS estimates ranging from ($1.27) to ($0.99). For the next financial year, analysts forecast that the business will report earnings of ($1.06) per share, with EPS estimates ranging from ($1.49) to ($0.85). Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Covia.

Covia (NASDAQ:CVIA) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.07). The firm had revenue of $408.96 million for the quarter, compared to analysts’ expectations of $445.41 million. The company’s revenue was down 21.9% on a year-over-year basis. During the same period last year, the business posted ($2.20) earnings per share.

A number of equities research analysts have recently commented on CVIA shares. Barclays upgraded shares of Covia from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $2.00 to $3.00 in a report on Tuesday, August 13th. Morgan Stanley cut their price target on shares of Covia from $2.50 to $2.00 and set an “underweight” rating on the stock in a report on Monday, October 7th. Finally, Zacks Investment Research upgraded shares of Covia from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $4.13.

Shares of NASDAQ CVIA traded down $0.02 during midday trading on Tuesday, hitting $1.34. 206,100 shares of the company traded hands, compared to its average volume of 528,751. The stock has a 50-day moving average price of $1.63 and a 200 day moving average price of $2.13. Covia has a 12-month low of $1.28 and a 12-month high of $7.34.

In related news, CFO Andrew Eich acquired 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $1.51 per share, for a total transaction of $30,200.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of institutional investors have recently modified their holdings of CVIA. Marshall Wace LLP bought a new position in Covia during the first quarter valued at approximately $261,000. Bessemer Group Inc. bought a new position in Covia during the second quarter valued at approximately $43,000. Creative Planning bought a new position in Covia during the second quarter valued at approximately $60,000. SG Americas Securities LLC bought a new position in Covia during the second quarter valued at approximately $175,000. Finally, JPMorgan Chase & Co. lifted its position in Covia by 856.3% during the second quarter. JPMorgan Chase & Co. now owns 115,319 shares of the company’s stock valued at $224,000 after purchasing an additional 103,260 shares during the period.

About Covia

Covia Holdings Corporation provides minerals and material solutions for the industrial and energy markets. The company offers various mineral solutions to the glass, ceramics, coatings, polymers, construction, water filtration, sports, and recreation markets. It also offers a range of high-purity silica sand, nepheline syenite, feldspar, clay, kaolin, lime, resin systems, and coated materials.

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Earnings History and Estimates for Covia (NASDAQ:CVIA)

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