Analysts predict that Covenant Transportation Group, Inc. (NASDAQ:CVTI) will announce $0.23 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Covenant Transportation Group’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.34. Covenant Transportation Group posted earnings of $0.92 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 75%. The firm is expected to report its next earnings results on Wednesday, January 22nd.
On average, analysts expect that Covenant Transportation Group will report full-year earnings of $0.76 per share for the current year, with EPS estimates ranging from $0.70 to $0.88. For the next fiscal year, analysts expect that the business will report earnings of $1.13 per share, with EPS estimates ranging from $0.82 to $1.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Covenant Transportation Group.
Covenant Transportation Group (NASDAQ:CVTI) last posted its earnings results on Tuesday, October 22nd. The transportation company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.11). Covenant Transportation Group had a net margin of 2.55% and a return on equity of 7.79%. The business had revenue of $222.91 million during the quarter, compared to analysts’ expectations of $209.50 million.
A number of brokerages have commented on CVTI. Stifel Nicolaus cut shares of Covenant Transportation Group from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research note on Wednesday, October 30th. Cowen restated a “buy” rating and set a $21.00 target price on shares of Covenant Transportation Group in a research report on Friday, October 18th. BidaskClub downgraded shares of Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a report on Monday, November 25th. ValuEngine upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Zacks Investment Research lowered Covenant Transportation Group from a “hold” rating to a “strong sell” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $21.33.
In related news, COO James F. Brower, Jr. sold 6,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $15.58, for a total value of $93,480.00. Following the completion of the sale, the chief operating officer now directly owns 58,581 shares in the company, valued at $912,691.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 31.60% of the company’s stock.
A number of large investors have recently modified their holdings of CVTI. Royal Bank of Canada lifted its stake in Covenant Transportation Group by 1,098.8% in the second quarter. Royal Bank of Canada now owns 1,966 shares of the transportation company’s stock worth $29,000 after purchasing an additional 1,802 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Covenant Transportation Group in the second quarter worth approximately $148,000. Jefferies Group LLC bought a new stake in shares of Covenant Transportation Group during the 2nd quarter worth approximately $151,000. United Services Automobile Association lifted its stake in shares of Covenant Transportation Group by 25.0% during the 2nd quarter. United Services Automobile Association now owns 12,981 shares of the transportation company’s stock worth $191,000 after acquiring an additional 2,594 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Covenant Transportation Group during the 2nd quarter valued at $212,000. Institutional investors own 63.33% of the company’s stock.
CVTI stock traded down $0.07 during trading on Friday, hitting $12.69. 3,688 shares of the company’s stock traded hands, compared to its average volume of 95,200. Covenant Transportation Group has a 52 week low of $12.57 and a 52 week high of $24.99. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.58 and a current ratio of 1.61. The business has a fifty day simple moving average of $15.04 and a 200 day simple moving average of $15.27. The stock has a market capitalization of $247.93 million, a price-to-earnings ratio of 5.38 and a beta of 1.54.
About Covenant Transportation Group
Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers expedited and dedicated services. The company also provides ancillary services, including freight brokerage and logistics services, warehousing, and accounts receivable factoring; and over-the-road truckload services, as well as transportation management, shuttle, and switching services.
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