Covenant Logistics Group, Inc. (NASDAQ:CVLG) to Issue $0.11 Quarterly Dividend

Covenant Logistics Group, Inc. (NASDAQ:CVLG) declared a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.11 per share on Friday, December 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, December 6th.

Covenant Logistics Group Price Performance

CVLG stock traded up $0.58 on Tuesday, reaching $58.80. 31,205 shares of the company’s stock were exchanged, compared to its average volume of 61,469. The stock has a fifty day moving average of $53.86 and a 200-day moving average of $51.34. Covenant Logistics Group has a twelve month low of $41.38 and a twelve month high of $61.54. The firm has a market cap of $774.98 million, a PE ratio of 19.15 and a beta of 1.35. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Covenant Logistics Group (NASDAQ:CVLG) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. Covenant Logistics Group had a return on equity of 13.43% and a net margin of 3.72%. The business had revenue of $287.89 million for the quarter. During the same quarter in the prior year, the company earned $1.13 earnings per share. As a group, equities analysts predict that Covenant Logistics Group will post 4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, TD Cowen dropped their target price on Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Friday, October 25th.

Insiders Place Their Bets

In other news, Director Bradley A. Moline sold 7,000 shares of Covenant Logistics Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.64, for a total transaction of $417,480.00. Following the transaction, the director now directly owns 46,992 shares in the company, valued at approximately $2,802,602.88. This trade represents a 12.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 36.50% of the stock is currently owned by company insiders.

Covenant Logistics Group Company Profile

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.