Equities research analysts expect Covia Holdings (NASDAQ:CVIA) to post ($0.10) earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for Covia’s earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at ($0.02). Covia reported earnings per share of $0.05 in the same quarter last year, which would suggest a negative year over year growth rate of 300%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 13th.
According to Zacks, analysts expect that Covia will report full year earnings of ($0.76) per share for the current financial year, with EPS estimates ranging from ($0.85) to ($0.60). For the next year, analysts forecast that the firm will post earnings of ($0.49) per share, with EPS estimates ranging from ($1.37) to ($0.01). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Covia.
Covia (NASDAQ:CVIA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03). The business had revenue of $444.94 million during the quarter, compared to analyst estimates of $494.36 million. During the same period last year, the firm earned $0.14 EPS. Covia’s revenue for the quarter was down 12.5% compared to the same quarter last year.
Several research firms have weighed in on CVIA. Barclays upgraded Covia from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $2.00 to $3.00 in a research note on Tuesday. Zacks Investment Research downgraded Covia from a “hold” rating to a “sell” rating in a research note on Monday, July 15th. Bank of America restated an “underperform” rating and issued a $1.50 price target (down from $4.00) on shares of Covia in a research note on Tuesday, June 25th. Finally, Morgan Stanley dropped their price target on Covia from $5.50 to $2.50 and set an “underweight” rating for the company in a research note on Friday, July 12th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $10.68.
CVIA stock traded down $0.03 during midday trading on Tuesday, hitting $1.79. The company’s stock had a trading volume of 838,293 shares, compared to its average volume of 568,823. Covia has a 12 month low of $1.28 and a 12 month high of $15.80. The business has a 50 day moving average price of $1.77.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in Covia by 359.8% during the first quarter. BNP Paribas Arbitrage SA now owns 7,375 shares of the company’s stock valued at $41,000 after acquiring an additional 5,771 shares in the last quarter. Pensionmark Financial Group LLC purchased a new position in Covia during the second quarter worth $25,000. Bessemer Group Inc. purchased a new position in Covia during the second quarter worth $43,000. Bank of America Corp DE increased its position in Covia by 183.9% during the fourth quarter. Bank of America Corp DE now owns 29,952 shares of the company’s stock worth $102,000 after buying an additional 19,401 shares in the last quarter. Finally, Creative Planning purchased a new position in Covia during the second quarter worth $60,000.
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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