Covenant Transportation: Falls as Q2 forecast disappoints

Covenant Logistics

17/07/2019 19:51

** Freight services provider's shares  CVTI.O  down 3.9% at
$14.56
    ** Company sees Q2 adj EPS $0.34-$0.35 vs est $0.47 - IBES
Refinitiv data
    ** CVTI says truckload freight environment remained sluggish
through most of Q2; Expects capacity reduction to continue
throughout 2019  urn:newsml:reuters.com:*:nGNX7b75m4
    ** 3 of 5 brokerages rate the stock "buy" or higher, 2
"hold"; Median PT $21.50
    ** CVTI has fallen 21% YTD vs 19.5% rise in broader
 .SPCOMTRCK  index

 (Reporting by Sanjana Shivdas in Bengaluru)
 ((SanjanaSitara.Shivdas@thomsonreuters.com))