Covenant Transportation Group (NASDAQ:CVTI) Releases Q3 Earnings Guidance

Covenant Transportation Group (NASDAQ:CVTI) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ($0.08)-(0.09) for the period, compared to the Thomson Reuters consensus estimate of $0.25. Covenant Transportation Group also updated its Q3 2019 guidance to $-0.18–0.17 EPS.

A number of analysts have issued reports on the company. Cowen reissued an outperform rating and issued a $21.00 target price (down previously from $24.00) on shares of Covenant Transportation Group in a research report on Wednesday, July 17th. Zacks Investment Research raised Covenant Transportation Group from a strong sell rating to a hold rating in a research report on Monday. BidaskClub lowered Covenant Transportation Group from a hold rating to a sell rating in a research report on Friday, October 4th. ValuEngine raised Covenant Transportation Group from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Finally, Wolfe Research raised Covenant Transportation Group from an underperform rating to a peer perform rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $24.67.

NASDAQ CVTI traded up $0.13 on Thursday, reaching $16.09. The stock had a trading volume of 15,753 shares, compared to its average volume of 129,196. The firm has a market capitalization of $294.62 million, a price-to-earnings ratio of 6.82 and a beta of 1.70. The company has a quick ratio of 1.67, a current ratio of 1.70 and a debt-to-equity ratio of 0.75. Covenant Transportation Group has a 12-month low of $13.27 and a 12-month high of $26.67. The stock has a fifty day moving average price of $16.01 and a two-hundred day moving average price of $16.32.

Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The business had revenue of $219.30 million during the quarter, compared to the consensus estimate of $220.05 million. Covenant Transportation Group had a net margin of 4.05% and a return on equity of 11.91%. Sell-side analysts forecast that Covenant Transportation Group will post 1.29 earnings per share for the current fiscal year.

Covenant Transportation Group Company Profile

Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers expedited and dedicated services. The company also provides ancillary services, including freight brokerage and logistics services, warehousing, and accounts receivable factoring; and over-the-road truckload services, as well as transportation management, shuttle, and switching services.

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Earnings History and Estimates for Covenant Transportation Group (NASDAQ:CVTI)

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