Landstar System, Inc. (NASDAQ:LSTR) to Issue $0.33 Quarterly Dividend

Landstar System, Inc. (NASDAQ:LSTR) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Wednesday, May 8th will be paid a dividend of 0.33 per share by the transportation company on Friday, May 24th. This represents a $1.32 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Tuesday, May 7th.

Landstar System has increased its dividend payment by an average of 16.8% per year over the last three years and has increased its dividend every year for the last 9 years. Landstar System has a dividend payout ratio of 16.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Landstar System to earn $8.18 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 16.1%.

Landstar System Stock Performance

Shares of LSTR stock opened at $180.14 on Monday. The stock has a fifty day moving average price of $182.64 and a 200 day moving average price of $183.51. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.00 and a current ratio of 2.22. The stock has a market cap of $6.44 billion, a PE ratio of 27.71, a P/E/G ratio of 4.91 and a beta of 0.86. Landstar System has a 1 year low of $161.13 and a 1 year high of $208.62.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Landstar System had a return on equity of 23.11% and a net margin of 4.63%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Sell-side analysts forecast that Landstar System will post 6.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LSTR. Wolfe Research raised shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target on the stock in a report on Wednesday, January 10th. Stifel Nicolaus reduced their price objective on Landstar System from $166.00 to $164.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. UBS Group increased their price objective on Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Wells Fargo & Company boosted their target price on shares of Landstar System from $165.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. Finally, Susquehanna decreased 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 note on Friday, April 26th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and a consensus target price of $183.91.

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.