Covenant Logistics Group (NASDAQ:CVLG) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Covenant Logistics Group (NASDAQ:CVLG) posted its earnings results on Wednesday. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.95 by $0.09, Zacks reports. Covenant Logistics Group had a return on equity of 14.16% and a net margin of 3.82%. The firm had revenue of $287.50 million for the quarter. During the same quarter in the prior year, the business earned $1.07 earnings per share.

Covenant Logistics Group Price Performance

Shares of CVLG stock traded up $4.19 during mid-day trading on Thursday, hitting $54.95. 208,624 shares of the stock traded hands, compared to its average volume of 66,684. Covenant Logistics Group has a twelve month low of $38.25 and a twelve month high of $57.57. The firm has a market cap of $718.20 million, a price-to-earnings ratio of 17.61 and a beta of 1.38. The company’s 50-day simple moving average is $48.53 and its 200-day simple moving average is $47.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.04.

Covenant Logistics Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, June 7th. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 14.10%.

Insider Activity

In other news, Director D Michael Kramer sold 3,725 shares of Covenant Logistics Group stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $46.64, for a total transaction of $173,734.00. Following the transaction, the director now directly owns 11,285 shares in the company, valued at approximately $526,332.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 36.50% of the stock is owned by insiders.

Covenant Logistics Group Company Profile

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.