Zacks: Analysts Anticipate Covenant Transportation Group, Inc. (CVTI) to Announce $0.20 EPS

Equities analysts forecast that Covenant Transportation Group, Inc. (NASDAQ:CVTI) will announce earnings of $0.20 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Covenant Transportation Group’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.19. Covenant Transportation Group posted earnings of $0.24 per share in the same quarter last year, which would indicate a negative year over year growth rate of 16.7%. The business is scheduled to report its next quarterly earnings results after the market closes on Thursday, April 25th.

According to Zacks, analysts expect that Covenant Transportation Group will report full year earnings of $2.11 per share for the current year, with EPS estimates ranging from $1.90 to $2.30. For the next year, analysts expect that the business will report earnings of $2.28 per share, with EPS estimates ranging from $1.90 to $2.45. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Covenant Transportation Group.

Covenant Transportation Group (NASDAQ:CVTI) last released its earnings results on Wednesday, January 23rd. The transportation company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.16. The business had revenue of $272.27 million during the quarter, compared to the consensus estimate of $269.20 million. Covenant Transportation Group had a net margin of 4.80% and a return on equity of 13.57%.

A number of analysts have weighed in on the stock. ValuEngine raised shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 24th. Zacks Investment Research downgraded shares of Covenant Transportation Group from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. Stephens set a $25.00 target price on shares of Covenant Transportation Group and gave the company a “buy” rating in a research report on Tuesday, March 19th. Cowen reissued a “market perform” rating and set a $23.00 target price (down previously from $27.00) on shares of Covenant Transportation Group in a research report on Tuesday, March 19th. Finally, TheStreet downgraded shares of Covenant Transportation Group from a “b-” rating to a “c+” rating in a research report on Wednesday, December 26th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Covenant Transportation Group has an average rating of “Hold” and a consensus price target of $28.00.

Hedge funds have recently made changes to their positions in the company. Ranger Investment Management L.P. grew its position in shares of Covenant Transportation Group by 33.2% during the 4th quarter. Ranger Investment Management L.P. now owns 216,712 shares of the transportation company’s stock worth $4,161,000 after buying an additional 53,997 shares during the period. First Quadrant L P CA acquired a new stake in shares of Covenant Transportation Group during the 4th quarter worth approximately $253,000. First Trust Advisors LP grew its position in shares of Covenant Transportation Group by 18.7% during the 4th quarter. First Trust Advisors LP now owns 22,201 shares of the transportation company’s stock worth $426,000 after buying an additional 3,496 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in shares of Covenant Transportation Group during the 4th quarter worth approximately $1,295,000. Finally, American Century Companies Inc. grew its position in shares of Covenant Transportation Group by 3.3% during the 4th quarter. American Century Companies Inc. now owns 78,666 shares of the transportation company’s stock worth $1,510,000 after buying an additional 2,546 shares during the period. 64.17% of the stock is owned by institutional investors.

NASDAQ:CVTI traded down $0.11 on Monday, reaching $20.25. 49,964 shares of the stock traded hands, compared to its average volume of 137,952. The company has a market capitalization of $371.95 million, a PE ratio of 8.58 and a beta of 1.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 1.66. Covenant Transportation Group has a 1-year low of $18.13 and a 1-year high of $35.19.

Covenant Transportation Group Company Profile

Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers expedited and dedicated services. The company also provides ancillary services, including freight brokerage and logistics services, warehousing, and accounts receivable factoring; and over-the-road truckload services, as well as transportation management, shuttle, and switching services.

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

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