Covenant Logistics Group, Inc. Announces Quarterly Dividend of $0.11 (NASDAQ:CVLG)

Covenant Logistics Group, Inc. (NASDAQ:CVLG) declared a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Shareholders of record on Friday, December 6th will be paid a dividend of 0.11 per share on Friday, December 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, December 6th.

Covenant Logistics Group Stock Up 1.0 %

NASDAQ CVLG opened at $58.80 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 0.46. The company has a market cap of $774.98 million, a price-to-earnings ratio of 19.34 and a beta of 1.35. The company has a 50 day moving average of $53.98 and a 200-day moving average of $51.42. Covenant Logistics Group has a 1-year low of $41.38 and a 1-year high of $61.54.

Covenant Logistics Group (NASDAQ:CVLG) last released its earnings results on Wednesday, October 23rd. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $287.89 million during the quarter. Covenant Logistics Group had a return on equity of 13.43% and a net margin of 3.72%. During the same quarter in the previous year, the company posted $1.13 earnings per share. On average, equities research analysts expect that Covenant Logistics Group will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling at Covenant Logistics Group

In other Covenant Logistics Group news, Director Bradley A. Moline sold 7,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.64, for a total transaction of $417,480.00. Following the completion of the transaction, the director now owns 46,992 shares of the company’s stock, valued at approximately $2,802,602.88. The trade was a 12.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 36.50% of the company’s stock.

Analysts Set New Price Targets

Separately, TD Cowen dropped their target price on shares of Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Friday, October 25th.

Covenant Logistics Group Company Profile

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.