Con-Way Director W Keith Kennedy Jr Sells 3,000 Shares (CNW)
Con-Way (NYSE:CNW) Director W Keith Kennedy, Jr. unloaded 3,000 shares of Con-Way stock on the open market in a transaction dated Friday, October 4th. The shares were sold at an average price of $43.30, for a total value of $129,900.00. Following the completion of the transaction, the director now directly owns 33,999 shares of the company’s stock, valued at approximately $1,472,157. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on CNW. Analysts at Deutsche Bank raised their price target on shares of Con-Way (NYSE:CNW) from $46.00 to $49.00 in a research note to investors on Friday, August 2nd. They now have a “buy” rating on the stock. Separately, analysts at Wunderlich raised their price target on shares of Con-Way (NYSE:CNW) from $45.00 to $49.00 in a research note to investors on Friday, August 2nd. They now have a “buy” rating on the stock. Finally, analysts at Buckingham Research initiated coverage on shares of Con-Way (NYSE:CNW) in a research note to investors on Thursday, July 11th. They set a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.67.
Shares of Con-Way (NYSE:CNW) traded up 1.70% on Friday, hitting $44.20. The stock had a trading volume of 411,899 shares. Con-Way has a 1-year low of $25.97 and a 1-year high of $46.52. The stock has a 50-day moving average of $42.91 and a 200-day moving average of $39.20. The company has a market cap of $2.497 billion and a P/E ratio of 26.31.
Con-Way (NYSE:CNW) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.67 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.59 by $0.08. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company posted $0.74 earnings per share. Con-Way’s revenue was down 4.5% compared to the same quarter last year. Analysts expect that Con-Way will post $1.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 13th. Shareholders of record on Friday, November 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, November 13th.
Con-way Inc and its subsidiaries (NYSE:CNW) provides transportation, logistics and supply-chain management services for a range of manufacturing, industrial and retail customers.
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