It Seems Covanta Holding Corp Will Go Down. Had Bearish Options Activity

 It Seems Covanta Holding Corp Will Go Down. Had Bearish Options Activity

In today’s session Covanta Holding Corp (CVA) recorded an unusually high (1,074) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious CVA decrease. With 1,074 contracts traded and 13004 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: CVA161118P00015000 closed last at: $0.55 or 0% . About 378,853 shares traded hands. Covanta Holding Corp (NYSE:CVA) has declined 8.90% since March 14, 2016 and is downtrending. It has underperformed by 14.51% the S&P500.

Analysts await Covanta Holding Corp (NYSE:CVA) to report earnings on October, 25. They expect $0.14 EPS, down 36.36% or $0.08 from last year’s $0.22 per share. CVA’s profit will be $18.29 million for 26.79 P/E if the $0.14 EPS becomes a reality. After $-0.22 actual EPS reported by Covanta Holding Corp for the previous quarter, Wall Street now forecasts -163.64% EPS growth.

Covanta Holding Corp (NYSE:CVA) Ratings Coverage

Out of 9 analysts covering Covanta (NYSE:CVA), 5 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 56% are positive. Covanta has been the topic of 26 analyst reports since October 8, 2015 according to StockzIntelligence Inc. The stock of Covanta Holding Corp (NYSE:CVA) has “Outperform” rating given on Wednesday, January 20 by Oppenheimer. Imperial Capital maintained the shares of CVA in a report on Thursday, February 18 with “Outperform” rating. Robert W. Baird downgraded the shares of CVA in a report on Friday, April 29 to “Neutral” rating. The stock has “Outperform” rating given by Imperial Capital on Thursday, December 10. The firm has “Neutral” rating by Macquarie Research given on Friday, August 26. The firm has “Outperform” rating given on Thursday, October 29 by Imperial Capital. The rating was maintained by Wedbush with “Outperform” on Tuesday, December 29. The stock of Covanta Holding Corp (NYSE:CVA) earned “Equal-Weight” rating by Barclays Capital on Thursday, November 19. The company was maintained on Friday, March 18 by Stifel Nicolaus. Stifel Nicolaus downgraded Covanta Holding Corp (NYSE:CVA) on Monday, December 7 to “Hold” rating.

According to Zacks Investment Research, “Covanta Holding Corporation is an internationally recognized owner and operator of large-scale Energy-from-Waste and renewable energy projects and a recipient of the Energy Innovator Award from the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy. Covanta’s Energy-from-Waste facilities provide communities with an environmentally sound solution to their solid waste disposal needs by using that municipal solid waste to generate clean, renewable energy.”

Covanta Holding Corporation is a holding company. The company has a market cap of $1.96 billion. The Company, through its subsidiaries, owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. It has a 48.66 P/E ratio. It operates through North America segment, which consists of waste and energy services activities located primarily in the United States and Canada.

CVA Company Profile

Covanta Holding Corporation, incorporated on April 16, 1992, is a holding company. The Company, through its subsidiaries, owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. The Firm operates through North America segment, which consists of waste and energy services activities located primarily in the United States and Canada. The energy-from-waste (EfW) serves over two markets as both a sustainable waste management solution and as a source of clean energy.

More notable recent Covanta Holding Corp (NYSE:CVA) news were published by: Prnewswire.com which released: “Covanta Holding Corporation Names Danielle Pletka and Michael W. Ranger to …” on September 22, 2016, also Prnewswire.com with their article: “Covanta Holding Corporation to Present at Conferences” published on September 06, 2016, Prnewswire.com published: “Covanta Holding Corporation Second Quarter 2016 Earnings Conference Call to be …” on July 07, 2016. More interesting news about Covanta Holding Corp (NYSE:CVA) were released by: Finance.Yahoo.com and their article: “Covanta Holding Corporation Third Quarter 2016 Earnings Conference Call To Be …” published on October 11, 2016 as well as Prnewswire.com‘s news article titled: “Covanta Completes Exchange of China Assets for Cash” with publication date: October 03, 2016.

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