Con-way Rating Increased to Outperform at Zacks (CNW)
Con-way (NYSE:CNW) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday. The firm currently has a $52.20 price target on the stock. Zacks‘s target price indicates a potential upside of 5.78% from the company’s current price.
Con-way (NYSE:CNW) opened at 49.40 on Friday. Con-way has a one year low of $36.34 and a one year high of $50.98. The stock has a 50-day moving average of $49.23 and a 200-day moving average of $43.4. The company has a market cap of $2.822 billion and a P/E ratio of 26.08.
Con-way (NYSE:CNW) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.91 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.16. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the company posted $0.67 earnings per share. Con-way’s revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that Con-way will post $2.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Con-way in a research note on Thursday. They now have a $55.00 price target on the stock, up previously from $52.00. Separately, analysts at Bank of America reiterated a “neutral” rating on shares of Con-way in a research note on Thursday. They now have a $56.00 price target on the stock, up previously from $54.00. Finally, analysts at Credit Suisse raised their price target on shares of Con-way from $48.00 to $51.00 in a research note on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $51.69.
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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