Covenant Logistics Group (CVLG) Set to Announce Quarterly Earnings on Wednesday

Covenant Logistics Group (NASDAQ:CVLG) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $1.08 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 posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.09. The firm had revenue of $287.50 million for the quarter. Covenant Logistics Group had a return on equity of 13.78% and a net margin of 3.76%. During the same quarter last year, the firm earned $1.07 earnings per share. 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 Trading Down 1.4 %

NASDAQ:CVLG opened at $51.99 on Tuesday. Covenant Logistics Group has a 1 year low of $38.25 and a 1 year high of $56.96. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.05 and a current ratio of 1.08. The stock has a fifty day moving average price of $52.32 and a two-hundred day moving average price of $49.58. The stock has a market capitalization of $679.61 million, a price-to-earnings ratio of 16.66 and a beta of 1.34.

Covenant Logistics Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.85%. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 14.10%.

Insider Buying and Selling

In other news, Director Herbert J. Schmidt sold 21,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $55.24, for a total value of $1,160,040.00. Following the completion of the transaction, the director now owns 12,134 shares in the company, valued at $670,282.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 36.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, TD Cowen boosted their price objective on shares of Covenant Logistics Group from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

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.