Covenant Logistics Group (NASDAQ:CVLG – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01, Yahoo Finance reports. The business had revenue of $287.89 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 $1.13 earnings per share.
Covenant Logistics Group Price Performance
NASDAQ CVLG traded down $0.46 during trading hours on Friday, reaching $50.90. The company’s stock had a trading volume of 65,870 shares, compared to its average volume of 61,205. The company has a quick ratio of 1.05, a current ratio of 1.08 and a debt-to-equity ratio of 0.48. Covenant Logistics Group has a 1 year low of $38.25 and a 1 year high of $56.96. The firm’s 50-day moving average price is $52.33 and its 200-day moving average price is $49.66. The company has a market capitalization of $665.36 million, a price-to-earnings ratio of 16.54 and a beta of 1.34.
Covenant Logistics Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, September 6th. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 14.10%.
Insider Activity
Analysts Set New Price Targets
Separately, TD Cowen lowered their target price on shares of Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Friday.
Read Our Latest Stock Report on CVLG
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.
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