Covenant Logistics Group, Inc. (NASDAQ:CVLG) Plans Quarterly Dividend of $0.11

Covenant Logistics Group, Inc. (NASDAQ:CVLG) declared a quarterly dividend on Tuesday, November 26th,Wall Street Journal reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.11 per share on Friday, December 27th. This represents a $0.44 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, December 6th.

Covenant Logistics Group Stock Performance

CVLG stock traded up $0.58 during midday trading on Tuesday, reaching $58.80. 31,205 shares of the company were exchanged, compared to its average volume of 61,469. The firm has a market capitalization of $774.98 million, a price-to-earnings ratio of 19.15 and a beta of 1.35. The business has a 50-day moving average price of $53.86 and a two-hundred day moving average price of $51.34. Covenant Logistics Group has a one year low of $41.38 and a one year high of $61.54. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07.

Covenant Logistics Group (NASDAQ:CVLG) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. Covenant Logistics Group had a net margin of 3.72% and a return on equity of 13.43%. The firm had revenue of $287.89 million for the quarter. During the same period in the prior year, the company earned $1.13 earnings per share. Equities research analysts forecast that Covenant Logistics Group will post 4 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, TD Cowen reduced their price target on Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Friday, October 25th.

Insider Buying and Selling at Covenant Logistics Group

In related news, Director Bradley A. Moline sold 7,000 shares of Covenant Logistics Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.64, for a total value of $417,480.00. Following the transaction, the director now directly owns 46,992 shares of the company’s stock, valued at $2,802,602.88. This trade represents a 12.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 36.50% of the company’s stock.

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.