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Covenant Logistics (CVLG) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $35.23, marking a -1.89% move from the previous day. This change lagged the S&P 500's daily loss of 1.2%. Elsewhere, the Dow lost 1.1%, while the tech-heavy Nasdaq lost 2.86%.
Coming into today, shares of the truckload transportation services provider had lost 5.23% in the past month. In that same time, the Transportation sector lost 3.21%, while the S&P 500 lost 4.77%.
Covenant Logistics will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.51, up 41.12% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $295.8 million, up 0.53% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.98 per share and revenue of $1.22 billion. These totals would mark changes of +65.65% and +16.31%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Covenant Logistics. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Covenant Logistics is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Covenant Logistics's current valuation metrics, including its Forward P/E ratio of 6. This represents a discount compared to its industry's average Forward P/E of 14.11.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $35.23, marking a -1.89% move from the previous day. This change lagged the S&P 500's daily loss of 1.2%. Elsewhere, the Dow lost 1.1%, while the tech-heavy Nasdaq lost 2.86%.
Coming into today, shares of the truckload transportation services provider had lost 5.23% in the past month. In that same time, the Transportation sector lost 3.21%, while the S&P 500 lost 4.77%.
Covenant Logistics will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.51, up 41.12% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $295.8 million, up 0.53% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.98 per share and revenue of $1.22 billion. These totals would mark changes of +65.65% and +16.31%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Covenant Logistics. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Covenant Logistics is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Covenant Logistics's current valuation metrics, including its Forward P/E ratio of 6. This represents a discount compared to its industry's average Forward P/E of 14.11.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.