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

Covenant Logistics Group (NASDAQ:CVLG) is expected to be issuing its quarterly earnings data 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.

Covenant Logistics Group (NASDAQ:CVLG) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. Covenant Logistics Group had a net margin of 3.72% and a return on equity of 13.43%. The business had revenue of $287.89 million during the quarter. During the same period in the prior year, the company earned $0.57 EPS. 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 Price Performance

CVLG stock opened at $27.62 on Thursday. The company’s 50-day moving average price is $28.81 and its two-hundred day moving average price is $26.93. The firm 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 quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Covenant Logistics Group has a 12 month low of $21.51 and a 12 month high of $30.77.

Covenant Logistics Group Cuts Dividend

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

Analysts Set New Price Targets

Separately, TD Cowen cut their target price on Covenant Logistics Group from $35.00 to $34.50 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 14,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $29.82, for a total transaction of $417,480.00. Following the sale, the director now owns 93,984 shares in the company, valued at $2,802,602.88. The trade was a 12.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company 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.