Covia Holdings (NASDAQ:CVIA) Expected to Announce Earnings of -$0.14 Per Share

Equities research analysts expect Covia Holdings (NASDAQ:CVIA) to announce earnings of ($0.14) per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Covia’s earnings. The lowest EPS estimate is ($0.15) and the highest is ($0.08). Covia posted earnings per share of $0.05 in the same quarter last year, which indicates a negative year-over-year growth rate of 380%. The business is expected to announce its next quarterly earnings report on Wednesday, November 13th.

On average, analysts expect that Covia will report full-year earnings of ($0.83) per share for the current year, with EPS estimates ranging from ($0.97) to ($0.75). For the next financial year, analysts forecast that the business will report earnings of ($0.60) per share, with EPS estimates ranging from ($1.37) to ($0.19). Zacks’ earnings per share averages are an average based on a survey of research firms that follow Covia.

Covia (NASDAQ:CVIA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.03). The company had revenue of $444.94 million for the quarter, compared to analysts’ expectations of $494.36 million. During the same period in the prior year, the company earned $0.14 earnings per share. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year.

A number of equities research analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Covia from $5.50 to $2.50 and set an “underweight” rating for the company in a report on Friday, July 12th. Zacks Investment Research lowered shares of Covia from a “hold” rating to a “sell” rating in a report on Monday, July 15th. Bank of America reissued an “underperform” rating and issued a $1.50 price objective (down previously from $4.00) on shares of Covia in a report on Tuesday, June 25th. Finally, Barclays raised shares of Covia from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $2.00 to $3.00 in a report on Tuesday, August 13th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Covia presently has a consensus rating of “Hold” and an average target price of $6.00.

Shares of CVIA traded down $0.02 during mid-day trading on Tuesday, reaching $1.65. The stock had a trading volume of 254,372 shares, compared to its average volume of 564,609. Covia has a 52-week low of $1.28 and a 52-week high of $13.10. The business’s fifty day moving average is $1.74 and its 200 day moving average is $3.75.

A number of hedge funds have recently made changes to their positions in CVIA. Clearstead Advisors LLC grew its position in shares of Covia by 7.4% during the second quarter. Clearstead Advisors LLC now owns 3,099,701 shares of the company’s stock worth $6,075,000 after acquiring an additional 212,593 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Covia by 28.3% in the second quarter. BlackRock Inc. now owns 2,721,371 shares of the company’s stock valued at $5,332,000 after purchasing an additional 600,107 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Covia by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,439,760 shares of the company’s stock valued at $2,822,000 after purchasing an additional 47,308 shares in the last quarter. FMR LLC lifted its holdings in shares of Covia by 0.8% in the fourth quarter. FMR LLC now owns 1,150,800 shares of the company’s stock valued at $3,936,000 after purchasing an additional 9,334 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Covia by 3.6% in the second quarter. Northern Trust Corp now owns 425,674 shares of the company’s stock valued at $834,000 after purchasing an additional 14,722 shares in the last quarter.

Covia Company Profile

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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Earnings History and Estimates for Covia (NASDAQ:CVIA)

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