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

Covenant Logistics Group (NASDAQ:CVLG) issued its earnings results on Wednesday. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.09, Zacks reports. The business had revenue of $287.50 million during the quarter. Covenant Logistics Group had a net margin of 3.76% and a return on equity of 13.93%. During the same period last year, the firm posted $1.07 earnings per share.

Covenant Logistics Group Stock Up 3.4 %

CVLG traded up $1.87 during trading on Friday, hitting $56.82. 75,406 shares of the company’s stock traded hands, compared to its average volume of 66,745. Covenant Logistics Group has a 12-month low of $38.25 and a 12-month high of $57.57. The company’s 50 day simple moving average is $48.53 and its two-hundred day simple 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 capitalization of $742.75 million, a price-to-earnings ratio of 18.03 and a beta of 1.38.

Covenant Logistics Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $0.11 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.44 annualized dividend and a yield of 0.77%. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 14.10%.

Insider Transactions at Covenant Logistics Group

In related news, Director D Michael Kramer sold 3,725 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $46.64, for a total transaction of $173,734.00. Following the sale, the director now directly owns 11,285 shares of the company’s stock, valued at $526,332.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 36.50% of the company’s stock.

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.