3. Covanta Holding Corporation (CVA) deals in the conversion of waste into energy and other related products in the U.S.
For the second quarter of 2011, operating revenue increased 5% to $411 million from $393 million in the comparable period in 2010. Adjusted EBITDA was $123 million. Adjusted EPS for the second quarter of 2011 was 14 cents, up from 11 cents in the corresponding quarter prior year.
During the second quarter, Covanta entered into a contract to sell its Madurai facility in India, the third of the four Asia independent power provider (IPP) assets designated for sale. Sanjiv Khattri, Covanta's CFO, said, "We are on track to realize gross proceeds of $270 to $290 million, assuming we successfully close all four asset sales. We have tax efficiently repatriated over $135 million of that amount and have been proactively returning this capital to shareholders."For full-year 2011, Covanta estimates EBITDA in the range of $480 to $520 million. Analysts' consensus estimate pegs the stock's average gains at 37% over the next one year with buy ratings of 58%.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV