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

Covenant Logistics Group (NASDAQ:CVLG) is scheduled to be announcing its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.87 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 issued its quarterly earnings results on Tuesday, January 23rd. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02. Covenant Logistics Group had a net margin of 4.98% and a return on equity of 14.85%. The firm had revenue of $273.99 million during the quarter. 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

Shares of Covenant Logistics Group stock opened at $43.89 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.09 and a quick ratio of 1.06. Covenant Logistics Group has a fifty-two week low of $33.58 and a fifty-two week high of $57.57. The firm has a fifty day moving average price of $47.10 and a two-hundred day moving average price of $45.45. The company has a market cap of $573.73 million, a PE ratio of 10.89 and a beta of 1.41.

Covenant Logistics Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Thursday, February 29th. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 10.92%.

Analyst Upgrades and Downgrades

CVLG has been the subject of a number of research reports. Vertical Research initiated coverage on shares of Covenant Logistics Group in a report on Tuesday, January 23rd. They issued a “buy” rating and a $70.00 price target for the company. TD Cowen raised shares of Covenant Logistics Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $51.00 to $66.00 in a report on Thursday, January 25th.

Insider Transactions at Covenant Logistics Group

In related news, EVP Samuel F. Hough sold 4,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $51.55, for a total transaction of $206,200.00. Following the completion of the sale, the executive vice president now owns 25,125 shares in the company, valued at approximately $1,295,193.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO David Ray Parker sold 55,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.47, for a total transaction of $2,830,850.00. Following the completion of the sale, the chief executive officer now owns 196,537 shares in the company, valued at approximately $10,115,759.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samuel F. Hough sold 4,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $51.55, for a total transaction of $206,200.00. Following the sale, the executive vice president now owns 25,125 shares of the company’s stock, valued at approximately $1,295,193.75. The disclosure for this sale can be found here. In the last three months, insiders sold 117,667 shares of company stock valued at $6,078,403. Company insiders own 35.30% 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.