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Covenant Logistics (CVLG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $37.83, marking a -0.24% move from the previous day. This change lagged the S&P 500's daily gain of 0.73%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 0.16%.
Coming into today, shares of the truckload transportation services provider had lost 3.61% in the past month. In that same time, the Transportation sector gained 1.22%, while the S&P 500 gained 0.09%.
Investors will be hoping for strength from Covenant Logistics as it approaches its next earnings release. The company is expected to report EPS of $1.51, up 41.12% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $295.8 million, up 0.53% from the prior-year quarter.
CVLG's full-year Zacks Consensus Estimates are calling for earnings of $5.98 per share and revenue of $1.22 billion. These results would represent year-over-year changes of +65.65% and +16.31%, respectively.
Any recent changes to analyst estimates for Covenant Logistics should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Covenant Logistics is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Covenant Logistics currently has a Forward P/E ratio of 6.34. For comparison, its industry has an average Forward P/E of 13.1, which means Covenant Logistics is trading at a discount to the group.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Covenant Logistics (CVLG) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $37.83, marking a -0.24% move from the previous day. This change lagged the S&P 500's daily gain of 0.73%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 0.16%.
Coming into today, shares of the truckload transportation services provider had lost 3.61% in the past month. In that same time, the Transportation sector gained 1.22%, while the S&P 500 gained 0.09%.
Investors will be hoping for strength from Covenant Logistics as it approaches its next earnings release. The company is expected to report EPS of $1.51, up 41.12% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $295.8 million, up 0.53% from the prior-year quarter.
CVLG's full-year Zacks Consensus Estimates are calling for earnings of $5.98 per share and revenue of $1.22 billion. These results would represent year-over-year changes of +65.65% and +16.31%, respectively.
Any recent changes to analyst estimates for Covenant Logistics should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Covenant Logistics is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Covenant Logistics currently has a Forward P/E ratio of 6.34. For comparison, its industry has an average Forward P/E of 13.1, which means Covenant Logistics is trading at a discount to the group.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.