Covenant Logistics Group (NASDAQ:CVLG – Get Free Report) released its earnings results on Wednesday. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01, Yahoo Finance reports. Covenant Logistics Group had a net margin of 3.76% and a return on equity of 13.78%. The business had revenue of $287.89 million for the quarter. During the same period in the prior year, the business posted $1.13 earnings per share.
Covenant Logistics Group Trading Up 0.8 %
CVLG stock traded up $0.39 during midday trading on Friday, reaching $51.75. 19,432 shares of the company’s stock traded hands, compared to its average volume of 60,981. The business has a 50-day moving average price of $52.33 and a two-hundred day moving average price of $49.66. Covenant Logistics Group has a fifty-two week low of $38.25 and a fifty-two week high of $56.96. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.08 and a quick ratio of 1.05. The company has a market capitalization of $676.48 million, a P/E ratio of 16.66 and a beta of 1.34.
Covenant Logistics Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were given a dividend of $0.11 per share. The ex-dividend date was Friday, September 6th. This represents a $0.44 dividend on an annualized basis and a yield of 0.85%. Covenant Logistics Group’s dividend payout ratio (DPR) is 14.10%.
Insider Transactions at Covenant Logistics Group
Analyst Upgrades and Downgrades
Separately, TD Cowen raised their target price on shares of Covenant Logistics Group from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.
Get Our Latest Research Report on Covenant Logistics Group
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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