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Covenant Logistics (CVLG) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $35.59, marking a +1.37% move from the previous day. This move outpaced the S&P 500's daily gain of 0.76%. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, lost 0.98%.
Coming into today, shares of the truckload transportation services provider had gained 0.69% in the past month. In that same time, the Transportation sector gained 0.07%, while the S&P 500 lost 3.91%.
Wall Street will be looking for positivity from Covenant Logistics as it approaches its next earnings report date. In that report, analysts expect Covenant Logistics to post earnings of $0.77 per share. This would mark a year-over-year decline of 42.96%. Our most recent consensus estimate is calling for quarterly revenue of $256 million, down 12.21% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.77 per share and revenue of $1.06 billion. These totals would mark changes of -35.45% and -12.99%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. These recent revisions tend to reflect the evolving nature of short-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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.16% lower. Covenant Logistics is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Covenant Logistics has a Forward P/E ratio of 9.32 right now. For comparison, its industry has an average Forward P/E of 15.43, 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 201, which puts it in the bottom 21% 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.
To follow CVLG in the coming trading sessions, be sure to utilize Zacks.com.
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Covenant Logistics (CVLG) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $35.59, marking a +1.37% move from the previous day. This move outpaced the S&P 500's daily gain of 0.76%. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, lost 0.98%.
Coming into today, shares of the truckload transportation services provider had gained 0.69% in the past month. In that same time, the Transportation sector gained 0.07%, while the S&P 500 lost 3.91%.
Wall Street will be looking for positivity from Covenant Logistics as it approaches its next earnings report date. In that report, analysts expect Covenant Logistics to post earnings of $0.77 per share. This would mark a year-over-year decline of 42.96%. Our most recent consensus estimate is calling for quarterly revenue of $256 million, down 12.21% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.77 per share and revenue of $1.06 billion. These totals would mark changes of -35.45% and -12.99%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. These recent revisions tend to reflect the evolving nature of short-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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.16% lower. Covenant Logistics is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Covenant Logistics has a Forward P/E ratio of 9.32 right now. For comparison, its industry has an average Forward P/E of 15.43, 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 201, which puts it in the bottom 21% 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.
To follow CVLG in the coming trading sessions, be sure to utilize Zacks.com.