Wall Street brokerages expect that Covenant Transportation Group, Inc. (NASDAQ:CVTI) will report earnings per share (EPS) of $0.16 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Covenant Transportation Group’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.19. Covenant Transportation Group also reported earnings per share of $0.16 in the same quarter last year. The company is expected to announce its next earnings results on Wednesday, October 18th.

According to Zacks, analysts expect that Covenant Transportation Group will report full-year earnings of $0.78 per share for the current financial year, with EPS estimates ranging from $0.65 to $0.90. For the next fiscal year, analysts expect that the business will post earnings of $0.96 per share, with EPS estimates ranging from $0.70 to $1.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Covenant Transportation Group.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. Covenant Transportation Group had a net margin of 1.60% and a return on equity of 4.65%. The firm had revenue of $164.30 million for the quarter, compared to the consensus estimate of $158.40 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis.

A number of brokerages have recently weighed in on CVTI. ValuEngine upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Stephens upgraded shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $20.00 to $25.00 in a research note on Monday, August 14th. Zacks Investment Research upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. BidaskClub upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Cowen and Company reiterated a “buy” rating and set a $24.00 target price on shares of Covenant Transportation Group in a research note on Monday, August 28th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Covenant Transportation Group currently has a consensus rating of “Hold” and an average price target of $23.00.

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Shares of Covenant Transportation Group (CVTI) opened at 25.72 on Friday. The company’s 50-day moving average is $22.32 and its 200 day moving average is $19.08. The stock has a market cap of $470.34 million, a P/E ratio of 46.01 and a beta of 1.61. Covenant Transportation Group has a 1-year low of $14.26 and a 1-year high of $26.49.

In related news, President Joey B. Hogan sold 5,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $25.03, for a total transaction of $125,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ralph H. Lovin, Jr. sold 8,922 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $25.48, for a total transaction of $227,332.56. Following the transaction, the vice president now owns 46,371 shares of the company’s stock, valued at $1,181,533.08. The disclosure for this sale can be found here. 35.20% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in CVTI. Teachers Advisors LLC raised its stake in Covenant Transportation Group by 7.0% during the 4th quarter. Teachers Advisors LLC now owns 19,263 shares of the transportation company’s stock valued at $373,000 after purchasing an additional 1,268 shares during the last quarter. Nationwide Fund Advisors raised its stake in Covenant Transportation Group by 11.9% during the 1st quarter. Nationwide Fund Advisors now owns 10,166 shares of the transportation company’s stock valued at $191,000 after purchasing an additional 1,080 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Covenant Transportation Group by 5.3% during the 1st quarter. Russell Investments Group Ltd. now owns 202,631 shares of the transportation company’s stock valued at $3,809,000 after purchasing an additional 10,137 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Covenant Transportation Group by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 63,247 shares of the transportation company’s stock valued at $1,190,000 after purchasing an additional 3,473 shares during the last quarter. Finally, Comerica Bank acquired a new position in Covenant Transportation Group during the 1st quarter valued at $930,000. Hedge funds and other institutional investors own 62.10% of the company’s stock.

Covenant Transportation Group Company Profile

Covenant Transportation Group, Inc is a provider of expedited long haul freight transportation, primarily using two-person driver teams in transcontinental lanes. The Company’s services also include refrigerated, dedicated, cross-border, regional and brokerage. The Company’s segments include Truckload and Other.

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Earnings History and Estimates for Covenant Transportation Group (NASDAQ:CVTI)

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