Covenant Logistics Group, Inc. to Issue Quarterly Dividend of $0.07 (NYSE:CVLG)

Key Points

• Covenant Logistics Group, Inc. has declared a quarterly dividend of $0.07 per share, payable on September 26th to shareholders of record as of September 5th, reflecting an annualized yield of 1.2%.
• The company's stock has experienced a decline of 1.7%, recently trading at $23.84, with analysts adjusting price targets and ratings amidst market fluctuations.
• Covenant Logistics operates in the U.S. transportation and logistics sector through four segments, providing truckload services with strict delivery standards.

Covenant Logistics Group, Inc. (NYSE:CVLG - Get Free Report) declared a quarterly dividend on Friday, August 15th, RTT News reports. Shareholders of record on Friday, September 5th will be given a dividend of 0.07 per share on Friday, September 26th. This represents a c) annualized dividend and a yield of 1.2%.

Covenant Logistics Group Stock Down 1.7%

Shares of CVLG traded down $0.42 during mid-day trading on Friday, hitting $23.84. 52,741 shares of the company's stock were exchanged, compared to its average volume of 101,703. The stock has a market cap of $596.48 million, a price-to-earnings ratio of 18.20 and a beta of 1.41. The firm has a fifty day moving average of $24.16 and a two-hundred day moving average of $23.33. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.52. Covenant Logistics Group has a twelve month low of $17.46 and a twelve month high of $30.77.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. TD Cowen decreased their price objective on shares of Covenant Logistics Group from $31.00 to $30.00 and set a "buy" rating for the company in a report on Friday, April 25th. Wall Street Zen raised shares of Covenant Logistics Group from a "hold" rating to a "buy" rating in a report on Wednesday, July 30th.

Covenant Logistics Group Company Profile

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.

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