Commercial Vehicle Group, Inc. (NASDAQ:CVGI) Releases Earnings Results, Misses Expectations By $0.05 EPS
Commercial Vehicle Group, Inc. (NASDAQ:CVGI) issued its earnings results on Monday. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.05, Briefing.com reports. Commercial Vehicle Group had a return on equity of 11.58% and a net margin of 0.74%. The firm had revenue of $195.13 million for the quarter, compared to analysts’ expectations of $186.20 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year.
Shares of Commercial Vehicle Group (CVGI) traded down 27.34% during mid-day trading on Tuesday, hitting $6.43. The stock had a trading volume of 483,280 shares. The firm has a market cap of $198.33 million, a price-to-earnings ratio of 40.19 and a beta of 0.66. The company has a 50-day moving average of $8.37 and a 200 day moving average of $7.38. Commercial Vehicle Group has a one year low of $4.05 and a one year high of $9.62.
In other news, Director Scott C. Arves sold 8,500 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $9.30, for a total transaction of $79,050.00. Following the completion of the sale, the director now directly owns 107,606 shares of the company’s stock, valued at approximately $1,000,735.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.01% of the stock is owned by company insiders.
Separately, Seaport Global Securities decreased their target price on Commercial Vehicle Group from $11.00 to $8.50 and set a “buy” rating for the company in a report on Monday, May 8th.
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Commercial Vehicle Group Company Profile
Commercial Vehicle Group, Inc is a supplier of a range of cab-related products and systems. The Company operates through two segments: the Global Truck and Bus Segment (GTB Segment) and the Global Construction and Agriculture Segment (GCA Segment). The GTB Segment manufactures and sells products, which include Seats, Trim, sleeper boxes, cab structures, structural components and body panels, and mirrors and wiper systems.
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