Equities research analysts expect that Covia Holdings (NASDAQ:CVIA) will announce earnings of ($0.18) per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Covia’s earnings, with the highest EPS estimate coming in at ($0.13) and the lowest estimate coming in at ($0.29). Covia posted earnings per share of $0.14 during the same quarter last year, which suggests a negative year-over-year growth rate of 228.6%. The business is expected to announce its next quarterly earnings results on Tuesday, August 13th.
According to Zacks, analysts expect that Covia will report full-year earnings of ($0.83) per share for the current year, with EPS estimates ranging from ($1.06) to ($0.65). For the next year, analysts forecast that the company will report earnings of ($0.31) per share, with EPS estimates ranging from ($0.72) to ($0.03). Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that cover Covia.
Covia (NASDAQ:CVIA) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.04). The business had revenue of $428.25 million for the quarter, compared to the consensus estimate of $443.83 million. Covia’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS.
A number of analysts have issued reports on CVIA shares. Bank of America reiterated an “underperform” rating and set a $1.50 price target (down from $4.00) on shares of Covia in a research note on Tuesday, June 25th. Barclays started coverage on shares of Covia in a research note on Tuesday, March 12th. They set an “underweight” rating and a $4.00 price target on the stock. Five 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. Covia currently has a consensus rating of “Hold” and an average target price of $11.55.
Several hedge funds have recently added to or reduced their stakes in CVIA. BNP Paribas Arbitrage SA increased its stake in shares of Covia by 359.8% during the first quarter. BNP Paribas Arbitrage SA now owns 7,375 shares of the company’s stock worth $41,000 after buying an additional 5,771 shares during the period. Paloma Partners Management Co purchased a new stake in shares of Covia during the fourth quarter worth approximately $77,000. Bank of America Corp DE increased its stake in shares of 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 during the period. Principal Financial Group Inc. purchased a new stake in shares of Covia during the fourth quarter worth approximately $114,000. Finally, Rhumbline Advisers increased its stake in shares of Covia by 48.2% during the fourth quarter. Rhumbline Advisers now owns 39,632 shares of the company’s stock worth $136,000 after buying an additional 12,881 shares during the period.
NASDAQ:CVIA traded down $0.12 on Friday, reaching $1.72. 516,239 shares of the company’s stock were exchanged, compared to its average volume of 515,368. The business has a fifty day simple moving average of $2.45. Covia has a 52-week low of $1.65 and a 52-week high of $18.79.
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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