Covenant Logistics Group (CVLG) Set to Announce Earnings on Wednesday

Covenant Logistics Group (NASDAQ:CVLGGet Rating) is scheduled to release its earnings data after the market closes on Wednesday, April 27th. Analysts expect Covenant Logistics Group to post earnings of $0.87 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Covenant Logistics Group (NASDAQ:CVLGGet Rating) last issued its earnings results on Wednesday, January 26th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.03. Covenant Logistics Group had a net margin of 5.81% and a return on equity of 19.01%. The company had revenue of $294.23 million during the quarter, compared to analysts’ expectations of $282.00 million. During the same period last year, the company posted $0.61 earnings per share. On average, analysts expect Covenant Logistics Group to post $4 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of Covenant Logistics Group stock opened at $19.14 on Wednesday. Covenant Logistics Group has a 12-month low of $17.23 and a 12-month high of $34.75. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 0.07. The stock has a market cap of $321.90 million, a PE ratio of 5.35 and a beta of 1.55. The company has a 50-day moving average of $21.63 and a two-hundred day moving average of $24.43.

The business also recently announced a — dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 4th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Thursday, March 3rd. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 6.98%.

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC boosted its position in Covenant Logistics Group by 25.2% during the fourth quarter. Barclays PLC now owns 32,110 shares of the company’s stock worth $848,000 after acquiring an additional 6,466 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Covenant Logistics Group by 19.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 34,175 shares of the company’s stock worth $903,000 after acquiring an additional 5,642 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Covenant Logistics Group by 83.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 28,651 shares of the company’s stock worth $757,000 after acquiring an additional 13,051 shares during the last quarter. Marshall Wace LLP boosted its position in Covenant Logistics Group by 291.4% during the fourth quarter. Marshall Wace LLP now owns 38,591 shares of the company’s stock worth $1,019,000 after acquiring an additional 28,731 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Covenant Logistics Group by 23.8% during the fourth quarter. Millennium Management LLC now owns 279,230 shares of the company’s stock worth $7,380,000 after acquiring an additional 53,720 shares during the last quarter. 50.15% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on CVLG. Stephens cut shares of Covenant Logistics Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $30.00 to $25.00 in a report on Friday, April 1st. Zacks Investment Research cut shares of Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Tuesday. Wolfe Research dropped their price objective on shares of Covenant Logistics Group from $21.00 to $20.00 and set an “underperform” rating for the company in a research note on Tuesday, April 5th. Cowen cut shares of Covenant Logistics Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $40.00 to $21.00 in a research note on Thursday, April 14th. Finally, Cowen cut shares of Covenant Logistics Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $40.00 to $21.00 in a research note on Thursday, April 14th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, Covenant Logistics Group presently has a consensus rating of “Hold” and an average price target of $22.00.

About Covenant Logistics Group (Get Rating)

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.

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Earnings History for Covenant Logistics Group (NASDAQ:CVLG)

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