Con-way Upgraded to Neutral at Zacks (CNW)
Con-way (NYSE:CNW) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report released on Monday, American Banking & Market News reports. The firm currently has a $45.00 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 2.30% from the stock’s previous close.
Shares of Con-way (NYSE:CNW) traded down 0.59% during mid-day trading on Monday, hitting $43.73. The stock had a trading volume of 622,991 shares. Con-way has a 1-year low of $32.43 and a 1-year high of $46.52. The stock has a 50-day moving average of $41.13 and a 200-day moving average of $40.64. The company has a market cap of $2.491 billion and a price-to-earnings ratio of 25.92.
Con-way (NYSE:CNW) last released its earnings data on Wednesday, April 30th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Analysts expect that Con-way will post $2.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Stockholders of record on Friday, May 16th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, May 14th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wunderlich raised their price target on shares of Con-way from $40.00 to $44.00 in a research note on Friday. They now have a “hold” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Con-way in a research note on Thursday. They now have a $48.00 price target on the stock. Finally, analysts at Bank of America upgraded shares of Con-way from an “underperform” rating to a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $43.78.
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.
To view Zacks’ full report, visit Zacks’ official website.
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