Covenant Logistics Group (CVLG) Scheduled to Post Quarterly Earnings on Wednesday

Covenant Logistics Group (NASDAQ:CVLG) is scheduled to announce its earnings results after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $1.08 per share for the quarter. Investors that are interested in participating in 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 (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.09. The business had revenue of $287.50 million during the quarter. Covenant Logistics Group had a net margin of 3.76% and a return on equity of 13.78%. During the same quarter in the previous year, the company 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 Stock Performance

Shares of NASDAQ:CVLG opened at $52.46 on Wednesday. The company has a market cap of $685.76 million, a price-to-earnings ratio of 16.81 and a beta of 1.34. The company has a 50-day moving average price of $52.09 and a 200-day moving average price of $49.36. The company has a current ratio of 1.08, a quick ratio of 1.05 and a debt-to-equity ratio of 0.48. Covenant Logistics Group has a 12 month low of $38.25 and a 12 month high of $56.96.

Covenant Logistics Group Dividend Announcement

The company also recently disclosed 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. This represents a $0.44 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, September 6th. Covenant Logistics Group’s dividend payout ratio (DPR) is 14.10%.

Insider Buying and Selling

In related news, Director Herbert J. Schmidt sold 21,000 shares of the stock in a transaction dated Monday, July 29th. The shares were 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 directly owns 12,134 shares of the company’s stock, valued at $670,282.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 36.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, TD Cowen upped their price objective on shares of Covenant Logistics Group from $65.00 to $70.00 and gave the company a “buy” rating in a research note 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.