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Covanta schedules 4Q17 report ?4

17:09 01-Feb-18


Covanta has scheduled its fourth quarter report to occur after market close on February 22nd.  On average, analysts are expecting EPS of 21 cents on $462M in revenue with current quarter sales declining seasonally to $432M.

I recently called out Covanta as the surest of the long-term, high-yield opportunities I've been espousing.  Blackrock seems to concur, as it has upped its stake from 5 to 7% (from 7.5 to 9M shares).  That makes little difference to me.  Blackrock has also increased its holdings in MicroVision and Fitbit, but I wouldn't be inclined to follow those leads, even at reduced prices.  By contrast, though the dip in CVA was expected, I think there's very little that will be able to get in the way of Covanta's U.K. growth now that it has Macquarie's backing.  That could take years to become evident, especially in its legacy American market, but that's of little importance given the multi-year construction and multi-decade lifetime of the projects.