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

Landstar System, Inc. (NASDAQ:LSTR) announced a quarterly dividend on Monday, October 28th, NASDAQ reports. Stockholders 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 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, November 19th.

Landstar System has raised its dividend payment by an average of 16.8% per year over the last three years. Landstar System has a dividend payout ratio of 19.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Landstar System to earn $7.40 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 19.5%.

Landstar System Trading Down 1.9 %

NASDAQ LSTR traded down $3.50 on Wednesday, reaching $177.07. The company had a trading volume of 545,198 shares, compared to its average volume of 260,428. Landstar System has a fifty-two week low of $163.37 and a fifty-two week high of $201.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 26.93 and a beta of 0.80. The business has a 50 day moving average of $183.61 and a two-hundred day moving average of $182.44.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.05). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The business’s revenue was down 5.8% on a year-over-year basis. During the same period last year, the business posted $1.71 earnings per share. Analysts forecast that Landstar System will post 5.84 EPS for the current year.

Analysts Set New Price Targets

LSTR has been the subject of a number of research reports. Raymond James reduced their price objective on Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. Evercore ISI lowered their price objective on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, UBS Group upped their price target on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Landstar System has a consensus rating of “Hold” and a consensus price target of $174.67.

About Landstar System

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.