Covia Holdings Expected to Post FY2018 Earnings of $0.58 Per Share (CVIA)

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Covia Holdings (NASDAQ:CVIA) – Stock analysts at Jefferies Financial Group dropped their FY2018 earnings per share estimates for shares of Covia in a research report issued to clients and investors on Wednesday, January 9th. Jefferies Financial Group analyst S. Pant now anticipates that the company will earn $0.58 per share for the year, down from their prior estimate of $0.61. Jefferies Financial Group currently has a “Hold” rating and a $8.00 target price on the stock.

Covia (NASDAQ:CVIA) last issued its quarterly earnings results on Wednesday, November 14th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.21). The business had revenue of $523.40 million for the quarter, compared to analysts’ expectations of $615.07 million. The company’s revenue was up 50.5% compared to the same quarter last year.

A number of other brokerages have also commented on CVIA. B. Riley decreased their price target on shares of Covia from $15.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 20th. Zacks Investment Research lowered shares of Covia from a “hold” rating to a “sell” rating in a research note on Tuesday, November 20th. Credit Suisse Group lowered shares of Covia from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $14.00 to $7.50 in a research note on Wednesday, October 3rd. Piper Jaffray Companies lowered shares of Covia from an “overweight” rating to a “neutral” rating in a research note on Tuesday, October 2nd. Finally, OTR Global lowered shares of Covia from a “positive” rating to a “negative” rating in a research note on Friday, December 21st. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $13.50.

Shares of NASDAQ:CVIA opened at $5.00 on Friday. Covia has a one year low of $3.23 and a one year high of $30.00.

Several large investors have recently made changes to their positions in CVIA. GSA Capital Partners LLP acquired a new stake in shares of Covia during the 3rd quarter worth approximately $110,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Covia during the 2nd quarter worth approximately $117,000. Sterling Investment Advisors Ltd. boosted its position in shares of Covia by 150.0% during the 3rd quarter. Sterling Investment Advisors Ltd. now owns 15,000 shares of the company’s stock worth $135,000 after acquiring an additional 9,000 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Covia during the 3rd quarter worth approximately $135,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Covia during the 2nd quarter worth approximately $158,000.

In other Covia news, Director William E. Conway bought 20,000 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were purchased at an average price of $6.98 per share, for a total transaction of $139,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

About Covia

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.

Further Reading: Risk Tolerance

Earnings History and Estimates for Covia (NASDAQ:CVIA)

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