Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $18.10 on Covanta Holding Corporation (NYSE:CVA) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $-0.11 for the next fiscal and $N/A for underway quarter.
Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Covanta Holding Corporation (NYSE:CVA) stands at 43.88.
Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Covanta Holding Corporation Com, the PEG ratio for coming 3-5 years is -2.33.
The technical analysis highlights that Covanta Holding Corporation Com current is trading $-1.06 points away or -6.57% from its 50-day moving average of $16.20. Further it is trading $-0.76 or -4.77% away its 200-day moving average of $15.90.
The 52-week high of Covanta Holding Corporation (NYSE:CVA) was $20.94 while lowest point recorded in 52-week was $12.48. It implies if stock price makes a movement of over $-5.80, it will record a new 52-week high. In the case of +21.31% drop, it will touch a new 52-week low.
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