Covenant Logistics Group Inc reports results for the quarter ended March 31 - Earnings Summary

• Covenant Logistics Group Inc CVLG.N reported quarterly adjusted earnings of 32 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 42 cents. The mean expectation of four analysts for the quarter was for earnings of 33 cents per share. Wall Street expected results to range from 32 cents to 35 cents per share.

• Revenue fell 3.4% to $269.36 million from a year ago; analysts expected $279.95 million.

• Covenant Logistics Group Inc's reported EPS for the quarter was 24 cents​.

• The company reported quarterly net income of $6.56 million.

• Covenant Logistics Group Inc shares had fallen by 15.7% this quarter and lost 31.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 30.4% in the last three months.​

• In the last 30 days, four analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the ground freight & logistics peer group is also "buy"

• Wall Street's median 12-month price target for Covenant Logistics Group Inc is $33.00

This summary was machine generated from LSEG data April 23 at 09:02 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)