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Covenant Logistics (CVLG) Outpaces Stock Market Gains: What You Should Know
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Covenant Logistics (CVLG - Free Report) closed at $36.52 in the latest trading session, marking a +1.64% move from the prior day. This move outpaced the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 8.98%.
Heading into today, shares of the truckload transportation services provider had lost 5.57% over the past month, lagging the Transportation sector's gain of 2.34% and the S&P 500's gain of 1% in that time.
Wall Street will be looking for positivity from Covenant Logistics as it approaches its next earnings report date. This is expected to be January 25, 2023. On that day, Covenant Logistics is projected to report earnings of $1.51 per share, which would represent year-over-year growth of 41.12%. Our most recent consensus estimate is calling for quarterly revenue of $295.8 million, up 0.53% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Covenant Logistics is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Covenant Logistics is currently trading at a Forward P/E ratio of 8.51. Its industry sports an average Forward P/E of 14.29, so we one might conclude that Covenant Logistics is trading at a discount comparatively.
The Transportation - Truck industry is part of the Transportation sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outpaces Stock Market Gains: What You Should Know
Covenant Logistics (CVLG - Free Report) closed at $36.52 in the latest trading session, marking a +1.64% move from the prior day. This move outpaced the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 8.98%.
Heading into today, shares of the truckload transportation services provider had lost 5.57% over the past month, lagging the Transportation sector's gain of 2.34% and the S&P 500's gain of 1% in that time.
Wall Street will be looking for positivity from Covenant Logistics as it approaches its next earnings report date. This is expected to be January 25, 2023. On that day, Covenant Logistics is projected to report earnings of $1.51 per share, which would represent year-over-year growth of 41.12%. Our most recent consensus estimate is calling for quarterly revenue of $295.8 million, up 0.53% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Covenant Logistics is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Covenant Logistics is currently trading at a Forward P/E ratio of 8.51. Its industry sports an average Forward P/E of 14.29, so we one might conclude that Covenant Logistics is trading at a discount comparatively.
The Transportation - Truck industry is part of the Transportation sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.