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Covenant Logistics (CVLG) Gains But Lags Market: What You Should Know
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Covenant Logistics (CVLG - Free Report) closed at $24.50 in the latest trading session, marking a +0.16% move from the prior day. The stock lagged the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 1.82%, while the tech-heavy Nasdaq added 0.61%.
Coming into today, shares of the truckload transportation services provider had lost 15.45% in the past month. In that same time, the Transportation sector lost 7%, while the S&P 500 lost 2.09%.
Wall Street will be looking for positivity from Covenant Logistics as it approaches its next earnings report date. The company is expected to report EPS of $1.04, up 70.49% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $282 million, up 25.21% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.56 per share and revenue of $1.03 billion. These totals would mark changes of +229.63% and +22.88%, respectively, from last year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Covenant Logistics currently has a Zacks Rank of #2 (Buy).
Investors should also note Covenant Logistics's current valuation metrics, including its Forward P/E ratio of 6.86. For comparison, its industry has an average Forward P/E of 16.49, which means Covenant Logistics is trading at a discount to the group.
The Transportation - Truck industry is part of the Transportation sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% 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) Gains But Lags Market: What You Should Know
Covenant Logistics (CVLG - Free Report) closed at $24.50 in the latest trading session, marking a +0.16% move from the prior day. The stock lagged the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 1.82%, while the tech-heavy Nasdaq added 0.61%.
Coming into today, shares of the truckload transportation services provider had lost 15.45% in the past month. In that same time, the Transportation sector lost 7%, while the S&P 500 lost 2.09%.
Wall Street will be looking for positivity from Covenant Logistics as it approaches its next earnings report date. The company is expected to report EPS of $1.04, up 70.49% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $282 million, up 25.21% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.56 per share and revenue of $1.03 billion. These totals would mark changes of +229.63% and +22.88%, respectively, from last year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Covenant Logistics currently has a Zacks Rank of #2 (Buy).
Investors should also note Covenant Logistics's current valuation metrics, including its Forward P/E ratio of 6.86. For comparison, its industry has an average Forward P/E of 16.49, which means Covenant Logistics is trading at a discount to the group.
The Transportation - Truck industry is part of the Transportation sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% 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.