Covenant Logistics Group, Inc. (CVLG) To Go Ex-Dividend on December 6th

Covenant Logistics Group, Inc. (NASDAQ:CVLG) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Investors 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 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, December 6th.

Covenant Logistics Group Stock Down 1.9 %

Shares of NASDAQ:CVLG opened at $57.18 on Wednesday. The firm has a fifty day moving average price of $54.45 and a two-hundred day moving average price of $51.81. The company has a market cap of $753.63 million, a price-to-earnings ratio of 18.81 and a beta of 1.39. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07. Covenant Logistics Group has a one year low of $41.38 and a one year high of $61.54.

Covenant Logistics Group (NASDAQ:CVLG) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. Covenant Logistics Group had a return on equity of 13.43% and a net margin of 3.72%. The company had revenue of $287.89 million during the quarter. During the same period in the prior year, the business posted $1.13 EPS. Analysts anticipate that Covenant Logistics Group will post 4 EPS for the current fiscal year.

Insider Transactions at Covenant Logistics Group

In other news, Director Bradley A. Moline sold 7,000 shares of the 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 transaction, the director now directly owns 46,992 shares in the company, valued at approximately $2,802,602.88. This represents a 12.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 36.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, TD Cowen decreased their price objective on shares of Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating on the stock 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.