Wall Street analysts predict that Covenant Transportation Group, Inc. (NASDAQ:CVTI) will post earnings per share of $0.77 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Covenant Transportation Group’s earnings, with estimates ranging from $0.75 to $0.80. Covenant Transportation Group reported earnings of $0.50 per share in the same quarter last year, which would suggest a positive year over year growth rate of 54%. The company is expected to report its next quarterly earnings report on Monday, February 4th.
According to Zacks, analysts expect that Covenant Transportation Group will report full-year earnings of $2.20 per share for the current year, with EPS estimates ranging from $2.19 to $2.20. For the next fiscal year, analysts expect that the firm will post earnings of $2.63 per share, with EPS estimates ranging from $2.55 to $2.75. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Covenant Transportation Group.
Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $243.30 million during the quarter, compared to the consensus estimate of $237.85 million. Covenant Transportation Group had a net margin of 9.22% and a return on equity of 11.77%.
Several equities analysts have issued reports on the stock. ValuEngine lowered shares of Covenant Transportation Group from a “hold” rating to a “sell” rating in a report on Friday, October 12th. BidaskClub lowered shares of Covenant Transportation Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Zacks Investment Research raised shares of Covenant Transportation Group from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Friday, October 26th. Wolfe Research lowered shares of Covenant Transportation Group from a “peer perform” rating to an “underperform” rating in a report on Friday, October 5th. Finally, Stephens reaffirmed a “buy” rating and issued a $35.00 price target on shares of Covenant Transportation Group in a report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $34.20.
NASDAQ:CVTI traded down $0.22 during trading hours on Monday, reaching $23.68. The company’s stock had a trading volume of 109,400 shares, compared to its average volume of 163,110. The company has a market capitalization of $438.40 million, a price-to-earnings ratio of 28.19 and a beta of 1.55. Covenant Transportation Group has a 12 month low of $23.51 and a 12 month high of $35.19. The company has a quick ratio of 2.80, a current ratio of 2.84 and a debt-to-equity ratio of 0.74.
In other Covenant Transportation Group news, President Joey B. Hogan sold 7,300 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $30.01, for a total value of $219,073.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 35.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Zacks Investment Management raised its position in shares of Covenant Transportation Group by 5.8% in the second quarter. Zacks Investment Management now owns 60,132 shares of the transportation company’s stock worth $1,894,000 after acquiring an additional 3,322 shares during the period. Bank of New York Mellon Corp raised its position in shares of Covenant Transportation Group by 17.3% in the second quarter. Bank of New York Mellon Corp now owns 67,043 shares of the transportation company’s stock worth $2,112,000 after acquiring an additional 9,883 shares during the period. Citadel Advisors LLC raised its position in shares of Covenant Transportation Group by 97.9% in the second quarter. Citadel Advisors LLC now owns 97,208 shares of the transportation company’s stock worth $3,062,000 after acquiring an additional 48,083 shares during the period. Employees Retirement System of Texas acquired a new position in shares of Covenant Transportation Group in the second quarter worth about $1,449,000. Finally, GSA Capital Partners LLP raised its position in shares of Covenant Transportation Group by 319.7% in the second quarter. GSA Capital Partners LLP now owns 55,143 shares of the transportation company’s stock worth $1,737,000 after acquiring an additional 42,005 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.
Covenant Transportation Group Company Profile
Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers long haul, dedicated, temperature-controlled, and regional solo-driver services; long haul, regional, dedicated, and intermodal temperature-controlled services; and regional solo-driver and dedicated services.
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