Covenant Logistics Group (CVLG) to Release Quarterly Earnings on Thursday

Covenant Logistics Group (NASDAQ:CVLG) is projected to announce its earnings results after the market closes on Thursday, January 23rd. Analysts expect the company to announce earnings of $1.00 per share and revenue of $284,906.67 billion for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Covenant Logistics Group (NASDAQ:CVLG) last released its earnings results on Wednesday, October 23rd. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $287.89 million during the quarter. Covenant Logistics Group had a return on equity of 13.43% and a net margin of 3.72%. During the same quarter last year, the company earned $0.57 earnings per share. On average, analysts expect Covenant Logistics Group to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Covenant Logistics Group Stock Up 0.9 %

Shares of CVLG stock opened at $27.85 on Wednesday. Covenant Logistics Group has a 1 year low of $21.51 and a 1 year high of $30.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.10. The business’s fifty day moving average is $28.71 and its 200-day moving average is $27.02. The stock has a market cap of $734.07 million, a PE ratio of 18.32 and a beta of 1.41.

Covenant Logistics Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 6th were paid a dividend of $0.055 per share. The ex-dividend date was Friday, December 6th. This represents a $0.22 annualized dividend and a yield of 0.79%. Covenant Logistics Group’s dividend payout ratio is currently 14.47%.

Insider Buying and Selling

In related news, Director Bradley A. Moline sold 14,000 shares of Covenant Logistics Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $29.82, for a total value of $417,480.00. Following the transaction, the director now owns 93,984 shares of the company’s stock, valued at approximately $2,802,602.88. This trade represents a 12.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 36.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, TD Cowen dropped their price target on shares of Covenant Logistics Group from $35.00 to $34.50 and set a “buy” rating on the stock in a research report on Friday, October 25th.

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.