What to Watch When Covenant Logistics Group Inc. [CVLG] Reports Quarterly Earnings

Earnings from Covenant Logistics Group Inc. [CVLG] are scheduled on April 26, 2021, after the market closes. It is expected that the company will report strong earnings for the quarter ending Mar 2021.

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CVLG Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn $0.36 per share on revenue of $206.15M. Taking a look at the future, the company is projected to report revenue of $209.1M at an earnings per share of $0.44 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 7.00% in revenue and 12.20% in earnings per share for the company.

CVLG Stock Earnings Forecast For The Current Year

For the full financial year, Covenant Logistics Group Inc. [NASDAQ:CVLG] is forecasted to generate revenue of $878.4M. The figure is about $39.84 million above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $2.05 in 2021, which is $0.97 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 89.80% this year, 12.20% next year, and 5.00% annually over the next five years. With regard to sales, forecasts suggest an incline of 4.80% in current fiscal year and 7.00% over following year.

CVLG Stock Price Performance

At a last check today, Covenant Logistics Group Inc. [NASDAQ:CVLG] finished down -0.82% at $19.40. The stock’s day high price was $20.355, and its lowest was $19.49. Its price fall -5.60% in the last five days. Since the beginning of the year, Covenant Logistics Group Inc.’s shares are up nearly 32.07%. However, the share price is -12.81% below its one year high. The top price reached by the shares of the company was $22.25 on 04/06/21, while the 52-week low came on 01/26/21, when the shares were $14.09. In the past year, shares of the company have risen 175.88%. At 50 days, the moving average achieved is $19.76 while at 200 days, the moving average is $17.66. There were 13513.0 shares traded in the last session, down from 0.13 million in the previous session.

Covenant Logistics Group Inc. [NASDAQ:CVLG] Stock Valuation Metrics

Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 0.40 PS value ratio is reported for the last one year of reported earnings. This is below the average return 1.12 for the industry, which means CVLG offers an attractive investment opportunity than its competitors do.

CVLG Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 19.54 level, and the violation of this level will cause a further drop to 19.25 level. At the upper end, 20.98 remains a key resistance. As the stock increases, it may find resistance at 20.67. In the 14-day chart, the Relative Strength Index standing at 40.92 suggests a technical neutral stance while the MACD standing at -0.66 indicates price will decrease in the next trading period. Stochastic %K at 4.27% suggests buying the stock while Percent R indicator at 100.00% suggests bearish price movement.

How much is the short interest in Covenant Logistics Group Inc.?

There have been a drop in short interest in the Covenant Logistics Group Inc. Financial stock, with short interest down by 38600.0 shares to 0.48 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 0.44 million shares. This 8.05% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 4.59% of the overall float in the stock, while the stock’s days to cover moved to 4.81.

How do analysts view Covenant Logistics Group Inc.?

In regard to the share price forecast for Covenant Logistics Group Inc. stock, the analysts, as surveyed by FactSet, forecast the price to reach $27.00 in the next twelve months, representing almost an 28.15% growth from its recent price of $19.40. Among Covenant Logistics Group Inc. stock projections, $32.00 is the highest analyst target for the stock, while $24.00 is the lowest. Despite this, 4 analysts who share their consensus rating for CVLG in 2021 agree that the stock is an Overweight.


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