Landstar System, Inc. (LSTR) To Go Ex-Dividend on August 18th

Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Monday, July 27th. Shareholders of record on Tuesday, August 18th will be given a dividend of 0.44 per share by the transportation company on Wednesday, September 9th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, August 18th. This is a 10.0% increase from Landstar System’s previous quarterly dividend of $0.40.

Landstar System has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 10 years. Landstar System has a dividend payout ratio of 27.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Landstar System to earn $7.41 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 23.8%.

Landstar System Trading Up 0.8%

Shares of Landstar System stock opened at $190.19 on Friday. The stock has a fifty day simple moving average of $202.08 and a 200 day simple moving average of $179.98. Landstar System has a 12-month low of $119.32 and a 12-month high of $228.46. The company has a market capitalization of $6.45 billion, a P/E ratio of 49.27 and a beta of 0.90. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.05). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. Landstar System’s revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 earnings per share. On average, sell-side analysts anticipate that Landstar System will post 5.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Wall Street Zen upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Barclays lifted their target price on shares of Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. The Goldman Sachs Group upped their target price on Landstar System from $147.00 to $168.00 and gave the company a “sell” rating in a report on Thursday, July 16th. Finally, Stephens raised Landstar System to a “strong-buy” rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $196.00.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.