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

Landstar System, Inc. (NASDAQ:LSTR) announced a quarterly dividend on Monday, October 28th,NASDAQ Dividends reports. Shareholders 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 of this dividend is Tuesday, November 19th.

Landstar System has increased its dividend payment by an average of 16.8% annually over the last three years. Landstar System has a dividend payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. 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

LSTR stock opened at $182.82 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. Landstar System has a 52-week low of $165.39 and a 52-week high of $201.40. The company has a market capitalization of $6.46 billion, a P/E ratio of 31.36 and a beta of 0.81. The company has a fifty day moving average price of $183.98 and a 200-day moving average price of $183.38.

Landstar System (NASDAQ:LSTR) last announced 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). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the firm posted $1.71 earnings per share. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, equities analysts expect that Landstar System will post 5.57 EPS for the current year.

Insider Activity

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total value of $184,320.00. Following the transaction, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at approximately $2,595,778.56. This trade represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LSTR shares. Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. Evercore ISI lowered their target price on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Wednesday, October 30th. Susquehanna cut their price target on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Raymond James lowered Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Stifel Nicolaus cut their target price on Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $174.25.

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.