Covenant Transportation Group, Inc. Forecasted to Post Q1 2018 Earnings of $0.07 Per Share (CVTI)
Covenant Transportation Group, Inc. (NASDAQ:CVTI) – Equities research analysts at Seaport Global Securities issued their Q1 2018 earnings per share (EPS) estimates for shares of Covenant Transportation Group in a report released on Tuesday. Seaport Global Securities analyst K. Sterling expects that the transportation company will post earnings of $0.07 per share for the quarter. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Covenant Transportation Group’s Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.80 EPS, FY2018 earnings at $1.60 EPS, Q1 2019 earnings at $0.16 EPS, Q2 2019 earnings at $0.34 EPS, Q3 2019 earnings at $0.60 EPS, Q4 2019 earnings at $0.95 EPS and FY2019 earnings at $2.05 EPS.
Covenant Transportation Group (NASDAQ:CVTI) last posted its earnings results on Monday, January 29th. The transportation company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.01). Covenant Transportation Group had a return on equity of 6.63% and a net margin of 7.94%. The firm had revenue of $203.31 million for the quarter, compared to analyst estimates of $202.40 million. During the same quarter last year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis.
Shares of Covenant Transportation Group (CVTI) opened at $29.40 on Friday. The company has a market capitalization of $548.70, a PE ratio of 34.88 and a beta of 1.56. Covenant Transportation Group has a 52-week low of $15.86 and a 52-week high of $30.60. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.77.
A number of hedge funds have recently modified their holdings of CVTI. Rhumbline Advisers increased its position in Covenant Transportation Group by 5.9% in the 2nd quarter. Rhumbline Advisers now owns 13,745 shares of the transportation company’s stock valued at $241,000 after acquiring an additional 760 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Covenant Transportation Group by 1.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 32,530 shares of the transportation company’s stock valued at $570,000 after purchasing an additional 312 shares in the last quarter. Nationwide Fund Advisors boosted its holdings in Covenant Transportation Group by 156.4% in the 2nd quarter. Nationwide Fund Advisors now owns 26,066 shares of the transportation company’s stock valued at $457,000 after purchasing an additional 15,900 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Covenant Transportation Group in the 2nd quarter valued at approximately $699,000. Finally, Northern Trust Corp boosted its holdings in Covenant Transportation Group by 3.3% in the 2nd quarter. Northern Trust Corp now owns 149,807 shares of the transportation company’s stock valued at $2,627,000 after purchasing an additional 4,760 shares in the last quarter. Hedge funds and other institutional investors own 63.97% of the company’s stock.
In related news, CEO David Ray Parker sold 3,814 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $30.00, for a total value of $114,420.00. Following the transaction, the chief executive officer now owns 110,580 shares in the company, valued at approximately $3,317,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 84,307 shares of company stock worth $2,530,223 in the last 90 days. 35.20% of the stock is currently owned by insiders.
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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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