Covenant Logistics Group (CVLG) to Release Earnings on Thursday

Covenant Logistics Group (NASDAQ:CVLG) is projected to release its earnings data after the market closes on Thursday, January 23rd. Analysts expect Covenant Logistics Group to post earnings of $1.00 per share and revenue of $284,906.67 billion for the quarter.

Covenant Logistics Group (NASDAQ:CVLG) last issued its quarterly 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 in the previous year, the business posted $0.57 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 Up 1.7 %

Shares of CVLG stock opened at $27.62 on Thursday. The stock has a 50 day simple moving average of $28.81 and a two-hundred day simple moving average of $26.93. The company has a market cap of $728.04 million, a P/E ratio of 9.09 and a beta of 1.41. 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 has a fifty-two week low of $21.51 and a fifty-two week high of $30.77.

Covenant Logistics Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 6th were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Friday, December 6th. Covenant Logistics Group’s payout ratio is 14.47%.

Wall Street Analyst Weigh In

Separately, TD Cowen cut their price objective 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.

Insider Activity

In other news, Director Bradley A. Moline sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $29.82, for a total value of $417,480.00. Following the transaction, the director now owns 93,984 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.