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Covenant Logistics (CVLG) Rises As Market Takes a Dip: Key Facts
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The latest trading session saw Covenant Logistics (CVLG - Free Report) ending at $45.32, denoting a +1.55% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.01% for the day. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq depreciated by 0.25%.
Shares of the truckload transportation services provider have depreciated by 0.29% over the course of the past month, outperforming the Transportation sector's loss of 3.89% and the S&P 500's loss of 1.6%.
Analysts and investors alike will be keeping a close eye on the performance of Covenant Logistics in its upcoming earnings disclosure. The company's earnings report is set to go public on October 25, 2023. On that day, Covenant Logistics is projected to report earnings of $1.12 per share, which would represent a year-over-year decline of 26.32%.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.04% downward. Covenant Logistics currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Covenant Logistics has a Forward P/E ratio of 10.43 right now. This signifies a discount in comparison to the average Forward P/E of 23.38 for its industry.
The Transportation - Truck industry is part of the Transportation sector. With its current Zacks Industry Rank of 191, this industry ranks in the bottom 25% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Covenant Logistics (CVLG) Rises As Market Takes a Dip: Key Facts
The latest trading session saw Covenant Logistics (CVLG - Free Report) ending at $45.32, denoting a +1.55% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.01% for the day. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq depreciated by 0.25%.
Shares of the truckload transportation services provider have depreciated by 0.29% over the course of the past month, outperforming the Transportation sector's loss of 3.89% and the S&P 500's loss of 1.6%.
Analysts and investors alike will be keeping a close eye on the performance of Covenant Logistics in its upcoming earnings disclosure. The company's earnings report is set to go public on October 25, 2023. On that day, Covenant Logistics is projected to report earnings of $1.12 per share, which would represent a year-over-year decline of 26.32%.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.04% downward. Covenant Logistics currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Covenant Logistics has a Forward P/E ratio of 10.43 right now. This signifies a discount in comparison to the average Forward P/E of 23.38 for its industry.
The Transportation - Truck industry is part of the Transportation sector. With its current Zacks Industry Rank of 191, this industry ranks in the bottom 25% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.