$447.56 Million in Sales Expected for Covia Holdings (CVIA) This Quarter

Wall Street brokerages predict that Covia Holdings (NASDAQ:CVIA) will announce sales of $447.56 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Covia’s earnings. The lowest sales estimate is $425.00 million and the highest is $502.00 million. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, May 9th.

On average, analysts expect that Covia will report full year sales of $2.00 billion for the current financial year, with estimates ranging from $1.82 billion to $2.15 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.12 billion, with estimates ranging from $1.91 billion to $2.35 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Covia.

Covia (NASDAQ:CVIA) last released its earnings results on Thursday, March 21st. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.09). The company had revenue of $441.30 million during the quarter, compared to analysts’ expectations of $464.57 million. The business’s quarterly revenue was up 31.4% compared to the same quarter last year.

A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Covia from a “sell” rating to a “hold” rating in a research note on Monday, January 21st. Cowen cut shares of Covia from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 17th. Finally, Barclays assumed coverage on shares of Covia in a research note on Tuesday, March 12th. They issued an “underweight” rating and a $4.00 target price for the company. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.55.

Shares of NASDAQ CVIA traded down $0.14 during mid-day trading on Tuesday, hitting $5.49. The stock had a trading volume of 600 shares, compared to its average volume of 417,210. Covia has a twelve month low of $3.23 and a twelve month high of $30.00.

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in shares of Covia by 359.8% in the first quarter. BNP Paribas Arbitrage SA now owns 7,375 shares of the company’s stock valued at $41,000 after purchasing an additional 5,771 shares during the period. Geode Capital Management LLC increased its stake in Covia by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 330,598 shares of the company’s stock worth $1,130,000 after acquiring an additional 16,448 shares during the last quarter. Norges Bank bought a new position in Covia in the 4th quarter worth about $534,000. FMR LLC increased its stake in Covia by 0.8% in the 4th quarter. FMR LLC now owns 1,150,800 shares of the company’s stock worth $3,936,000 after acquiring an additional 9,334 shares during the last quarter. Finally, HighPoint Advisor Group LLC increased its stake in Covia by 31.2% in the 4th quarter. HighPoint Advisor Group LLC now owns 42,089 shares of the company’s stock worth $209,000 after acquiring an additional 9,999 shares during the last quarter.

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.

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Earnings History and Estimates for Covia (NASDAQ:CVIA)

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