Con-way PT Raised to $51.00 (CNW)
Stock analysts at Credit Suisse lifted their price target on shares of Con-way (NYSE:CNW) from $48.00 to $51.00 in a report issued on Friday. Credit Suisse’s price objective would suggest a potential upside of 3.85% from the company’s current price.
In other Con-way news, Director W Keith Kennedy, Jr. sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $50.80, for a total value of $152,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Con-way (NYSE:CNW) traded down 1.50% on Friday, hitting $48.375. 310,984 shares of the company’s stock traded hands. Con-way has a 52-week low of $36.34 and a 52-week high of $50.98. The stock’s 50-day moving average is $48.28 and its 200-day moving average is $42.4. The company has a market cap of $2.760 billion and a P/E ratio of 28.94.
Con-way (NYSE:CNW) last posted its quarterly earnings results 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 $2.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, August 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 0.81%. The ex-dividend date of this dividend is Wednesday, August 13th.
A number of other firms have also recently commented on CNW. Analysts at Citigroup Inc. downgraded shares of Con-way from a “buy” rating to a “neutral” rating in a research note on Friday. They now have a $52.00 price target on the stock, up previously from $48.00. Separately, analysts at Robert W. Baird raised their price target on shares of Con-way from $48.00 to $54.00 in a research note on Tuesday. Finally, analysts at Deutsche Bank raised their price target on shares of Con-way from $43.00 to $45.00 in a research note on Monday. They now have a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $49.63.
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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