Covenant Transportation Group Inc. (CVTI) Scheduled to Post Earnings on Friday
Covenant Transportation Group Inc. (NASDAQ:CVTI) will release its earnings data after the market closes on Friday, October 14th. Analysts expect Covenant Transportation Group to post earnings of $0.23 per share for the quarter.
Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Covenant Transportation Group had a net margin of 4.06% and a return on equity of 13.75%. The company had revenue of $158.80 million for the quarter, compared to analysts’ expectations of $156.62 million. During the same period last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. On average, analysts expect Covenant Transportation Group to post $1.17 EPS for the current fiscal year and $1.43 EPS for the next fiscal year.
Shares of Covenant Transportation Group Inc. (NASDAQ:CVTI) opened at 18.00 on Wednesday. The firm has a market capitalization of $327.49 million, a PE ratio of 11.39 and a beta of 0.66. The firm’s 50 day moving average is $19.20 and its 200 day moving average is $20.70. Covenant Transportation Group Inc. has a 1-year low of $13.60 and a 1-year high of $25.77.
Several large investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in Covenant Transportation Group by 13.3% in the second quarter. Rhumbline Advisers now owns 11,857 shares of the company’s stock valued at $214,000 after buying an additional 1,390 shares during the period. Teachers Advisors Inc. raised its stake in Covenant Transportation Group by 6.6% in the second quarter. Teachers Advisors Inc. now owns 17,995 shares of the company’s stock valued at $325,000 after buying an additional 1,114 shares during the period. Croft Leominster Inc. raised its stake in Covenant Transportation Group by 16.7% in the second quarter. Croft Leominster Inc. now owns 21,000 shares of the company’s stock valued at $379,000 after buying an additional 3,000 shares during the period. TFS Capital LLC bought a new stake in Covenant Transportation Group during the second quarter valued at $662,000. Finally, BlackRock Investment Management LLC raised its stake in Covenant Transportation Group by 21.0% in the second quarter. BlackRock Investment Management LLC now owns 50,900 shares of the company’s stock valued at $920,000 after buying an additional 8,825 shares during the period. 65.82% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on CVTI. BB&T Corp. cut Covenant Transportation Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd.
Cowen and Company lowered their target price on Covenant Transportation Group from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 22nd. Zacks Investment Research cut Covenant Transportation Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Finally, Stifel Nicolaus lifted their target price on Covenant Transportation Group from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $27.00.
Covenant Transportation Group Company Profile
Covenant Transportation Group, Inc is a truckload transportation company. The Company provides truckload transportation and brokerage services to customers throughout the continental United States, into and out of Mexico, and into and out of portions of Canada. It operates through the asset-based truckload services (Truckload) segment.
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