Covenant Logistics Group, Inc. (CVLG) to Issue Quarterly Dividend of $0.11 on December 27th

Covenant Logistics Group, Inc. (NASDAQ:CVLG) announced a quarterly dividend on Monday, November 25th,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 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Friday, December 6th.

Covenant Logistics Group Trading Up 1.0 %

NASDAQ CVLG opened at $58.80 on Wednesday. The stock has a market capitalization of $774.98 million, a price-to-earnings ratio of 19.34 and a beta of 1.35. Covenant Logistics Group has a 52 week low of $41.38 and a 52 week high of $61.54. The stock’s 50 day moving average price is $53.98 and its two-hundred day moving average price is $51.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.10.

Covenant Logistics Group (NASDAQ:CVLG) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $287.89 million for the quarter. Covenant Logistics Group had a net margin of 3.72% and a return on equity of 13.43%. During the same period in the prior year, the firm earned $1.13 EPS. As a group, analysts anticipate that Covenant Logistics Group will post 4 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Bradley A. Moline sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.64, for a total value of $417,480.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 36.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.