Covenant Transportation Group (CVTI) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Covenant Transportation Group (NASDAQ:CVTI) announced its earnings results on Tuesday. The company reported ($0.09) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.10) by $0.01, Stock Ratings Network reports. The company had revenue of $161.00 million for the quarter, compared to the consensus estimate of $156.82 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis.
Covenant Transportation Group (NASDAQ:CVTI) traded down 0.40% on Tuesday, hitting $9.93. The stock had a trading volume of 26,679 shares. Covenant Transportation Group has a 1-year low of $4.85 and a 1-year high of $12.29. The stock’s 50-day moving average is $10.41 and its 200-day moving average is $8.73. The company has a market cap of $148.1 million and a P/E ratio of 28.49.
On a related note, analysts at Zacks downgraded shares of Covenant Transportation Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, March 18th. They now have a $13.00 price target on the stock.
Covenant Transportation Group, Inc is a carrier for transportation companies, such as freight forwarders, less-than-truckload carriers, and third-party logistics providers that require a high level of service to support their businesses, as well as for traditional truckload customers, such as manufacturers, retailers, and food and beverage shippers.
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