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Covenant Logistics (CVLG) Rises Higher Than Market: Key Facts
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Covenant Logistics (CVLG - Free Report) ended the recent trading session at $43.90, demonstrating a +1.69% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.18%. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq increased by 0.1%.
Shares of the truckload transportation services provider have appreciated by 1.01% over the course of the past month, underperforming the Transportation sector's gain of 2.25% and the S&P 500's gain of 2.75%.
The upcoming earnings release of Covenant Logistics will be of great interest to investors. The company's earnings report is expected on January 23, 2024. In that report, analysts expect Covenant Logistics to post earnings of $1.05 per share. This would mark a year-over-year decline of 23.36%.
Investors should also pay attention to any latest changes in analyst estimates for Covenant Logistics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.41% downward. Covenant Logistics currently has a Zacks Rank of #4 (Sell).
From a valuation perspective, Covenant Logistics is currently exchanging hands at a Forward P/E ratio of 10.16. This signifies a discount in comparison to the average Forward P/E of 19.84 for its industry.
The Transportation - Truck industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 241, positioning it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 Higher Than Market: Key Facts
Covenant Logistics (CVLG - Free Report) ended the recent trading session at $43.90, demonstrating a +1.69% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.18%. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq increased by 0.1%.
Shares of the truckload transportation services provider have appreciated by 1.01% over the course of the past month, underperforming the Transportation sector's gain of 2.25% and the S&P 500's gain of 2.75%.
The upcoming earnings release of Covenant Logistics will be of great interest to investors. The company's earnings report is expected on January 23, 2024. In that report, analysts expect Covenant Logistics to post earnings of $1.05 per share. This would mark a year-over-year decline of 23.36%.
Investors should also pay attention to any latest changes in analyst estimates for Covenant Logistics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.41% downward. Covenant Logistics currently has a Zacks Rank of #4 (Sell).
From a valuation perspective, Covenant Logistics is currently exchanging hands at a Forward P/E ratio of 10.16. This signifies a discount in comparison to the average Forward P/E of 19.84 for its industry.
The Transportation - Truck industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 241, positioning it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.