Covenant Logistics Group (NASDAQ:CVLG) Posts Earnings Results, Beats Estimates By $0.09 EPS

Covenant Logistics Group (NASDAQ:CVLG) posted its quarterly earnings results on Wednesday. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.09, Zacks reports. The firm had revenue of $287.50 million for the quarter. Covenant Logistics Group had a net margin of 3.82% and a return on equity of 14.16%. During the same quarter in the previous year, the company posted $1.07 earnings per share.

Covenant Logistics Group Trading Up 8.3 %

Shares of NASDAQ CVLG traded up $4.19 during mid-day trading on Thursday, reaching $54.95. The company had a trading volume of 208,624 shares, compared to its average volume of 66,684. The business’s 50-day moving average is $48.53 and its 200-day moving average is $47.70. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The stock has a market cap of $718.20 million, a price-to-earnings ratio of 17.61 and a beta of 1.38. Covenant Logistics Group has a 52 week low of $38.25 and a 52 week high of $57.57.

Covenant Logistics Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, June 7th. Covenant Logistics Group’s payout ratio is presently 14.10%.

Insiders Place Their Bets

In other Covenant Logistics Group news, Director D Michael Kramer sold 3,725 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $46.64, for a total transaction of $173,734.00. Following the transaction, the director now directly owns 11,285 shares in the company, valued at approximately $526,332.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 36.50% of the stock is owned by company insiders.

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.