Landstar System, Inc. (NASDAQ:LSTR) Declares $0.36 Quarterly Dividend

Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Monday, October 28th,NASDAQ Dividends reports. Investors of record on Tuesday, November 19th will be given a dividend of 0.36 per share by the transportation company on Tuesday, December 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Tuesday, November 19th.

Landstar System has increased its dividend by an average of 16.8% annually over the last three years. Landstar System has a dividend payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Landstar System to earn $7.01 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 20.5%.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $182.82 on Monday. Landstar System has a twelve month low of $165.39 and a twelve month high of $201.40. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $183.98 and a two-hundred day moving average of $183.44. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 31.36 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.71 earnings per share. As a group, analysts expect that Landstar System will post 5.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the completion of the sale, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. TD Cowen decreased their target price on Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Evercore ISI cut their price objective on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their price objective on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Susquehanna decreased their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price objective on Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $174.25.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.