Covenant Logistics Group (CVLG) Scheduled to Post Quarterly Earnings on Wednesday

Covenant Logistics Group (NASDAQ:CVLG) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.87 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Covenant Logistics Group (NASDAQ:CVLG) last released its earnings results on Tuesday, January 23rd. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.05 by $0.02. The firm had revenue of $273.99 million during the quarter. Covenant Logistics Group had a net margin of 4.98% and a return on equity of 14.85%. On average, analysts expect Covenant Logistics Group to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Covenant Logistics Group Stock Down 1.8 %

CVLG stock opened at $43.89 on Tuesday. The stock has a market capitalization of $573.73 million, a P/E ratio of 10.89 and a beta of 1.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.09. Covenant Logistics Group has a one year low of $33.58 and a one year high of $57.57. The company has a 50 day moving average price of $47.10 and a two-hundred day moving average price of $45.45.

Covenant Logistics Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were paid a $0.11 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.44 annualized dividend and a yield of 1.00%. Covenant Logistics Group’s payout ratio is currently 10.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVLG. Vertical Research began coverage on shares of Covenant Logistics Group in a report on Tuesday, January 23rd. They issued a “buy” rating and a $70.00 price target on the stock. TD Cowen upgraded shares of Covenant Logistics Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $51.00 to $66.00 in a report on Thursday, January 25th.

Insider Activity at Covenant Logistics Group

In related news, CEO David Ray Parker sold 5,000 shares of Covenant Logistics Group stock in a transaction on Friday, February 16th. The shares were sold at an average price of $54.43, for a total transaction of $272,150.00. Following the transaction, the chief executive officer now owns 325,737 shares in the company, valued at approximately $17,729,864.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David Ray Parker sold 5,000 shares of Covenant Logistics Group stock in a transaction on Friday, February 16th. The shares were sold at an average price of $54.43, for a total transaction of $272,150.00. Following the transaction, the chief executive officer now owns 325,737 shares in the company, valued at approximately $17,729,864.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matisse Long sold 667 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $50.17, for a total transaction of $33,463.39. Following the completion of the transaction, the chief accounting officer now owns 9,115 shares in the company, valued at approximately $457,299.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,667 shares of company stock worth $6,078,403. 35.30% of the stock is currently owned by corporate insiders.

About Covenant Logistics Group

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.