Con-way Sets New 52-Week High at $50.61 (CNW)
Shares of Con-way (NYSE:CNW) hit a new 52-week high during trading on Monday , Stock Ratings News reports. The stock traded as high as $50.61 and last traded at $50.45, with a volume of 559,212 shares trading hands. The stock had previously closed at $50.46.
A number of analysts have recently weighed in on CNW shares. Analysts at Wunderlich upgraded shares of Con-way from a “hold” rating to a “buy” rating in a research note on Friday, June 13th. They now have a $57.00 price target on the stock, up previously from $44.00. Separately, analysts at Zacks upgraded shares of Con-way from an “underperform” rating to a “neutral” rating in a research note on Monday, May 5th. They now have a $45.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Con-way presently has a consensus rating of “Buy” and a consensus target price of $46.38.
The stock’s 50-day moving average is $46.9 and its 200-day moving average is $41.82. The company has a market cap of $2.876 billion and a price-to-earnings ratio of 29.73.
Con-way (NYSE:CNW) last issued its quarterly 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. On average, analysts predict that Con-way will post $2.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Wednesday, August 13th.
In other Con-way news, EVP Joseph M. Dagnese sold 7,799 shares of the stock on the open market in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $48.66, for a total value of $379,499.34. The transaction was disclosed in a document filed with the SEC, which is available at this link.
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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