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(CVLG) Ascends While Market Falls: Some Facts to Note
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Covenant Logistics (CVLG - Free Report) closed the most recent trading day at $43.92, moving +0.71% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.13%. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq decreased by 0.12%.
Heading into today, shares of the truckload transportation services provider had lost 9.93% over the past month, lagging the Transportation sector's loss of 7.23% and the S&P 500's loss of 5.53% in that time.
The upcoming earnings release of Covenant Logistics will be of great interest to investors. The company's earnings report is expected on October 25, 2023. The company is expected to report EPS of $1.12, down 26.32% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Covenant Logistics. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Covenant Logistics boasts a Zacks Rank of #2 (Buy).
With respect to valuation, Covenant Logistics is currently being traded at a Forward P/E ratio of 10.08. This signifies a discount in comparison to the average Forward P/E of 22.7 for its industry.
The Transportation - Truck industry is part of the Transportation sector. With its current Zacks Industry Rank of 210, this industry ranks in the bottom 17% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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(CVLG) Ascends While Market Falls: Some Facts to Note
Covenant Logistics (CVLG - Free Report) closed the most recent trading day at $43.92, moving +0.71% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.13%. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq decreased by 0.12%.
Heading into today, shares of the truckload transportation services provider had lost 9.93% over the past month, lagging the Transportation sector's loss of 7.23% and the S&P 500's loss of 5.53% in that time.
The upcoming earnings release of Covenant Logistics will be of great interest to investors. The company's earnings report is expected on October 25, 2023. The company is expected to report EPS of $1.12, down 26.32% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Covenant Logistics. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Covenant Logistics boasts a Zacks Rank of #2 (Buy).
With respect to valuation, Covenant Logistics is currently being traded at a Forward P/E ratio of 10.08. This signifies a discount in comparison to the average Forward P/E of 22.7 for its industry.
The Transportation - Truck industry is part of the Transportation sector. With its current Zacks Industry Rank of 210, this industry ranks in the bottom 17% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.