Heartland Express, Inc. Announces Quarterly Dividend of $0.02 (NASDAQ:HTLD)

Heartland Express, Inc. (NASDAQ:HTLDGet Rating) announced a quarterly dividend on Friday, June 17th, Zacks reports. Stockholders of record on Monday, June 27th will be given a dividend of 0.02 per share by the transportation company on Thursday, July 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, June 24th.

Heartland Express has raised its dividend payment by an average of 93.5% per year over the last three years. Heartland Express has a dividend payout ratio of 8.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Heartland Express to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 8.7%.

NASDAQ HTLD opened at $13.49 on Friday. Heartland Express has a 52-week low of $12.78 and a 52-week high of $17.88. The stock has a market cap of $1.06 billion, a PE ratio of 12.97 and a beta of 0.51. The firm has a 50-day moving average of $13.89 and a 200-day moving average of $14.78.

Heartland Express (NASDAQ:HTLDGet Rating) last released its quarterly earnings results on Thursday, April 21st. The transportation company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Heartland Express had a net margin of 13.58% and a return on equity of 11.27%. The business had revenue of $151.70 million for the quarter, compared to analyst estimates of $151.73 million. During the same period last year, the firm earned $0.17 earnings per share. Heartland Express’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Heartland Express will post 0.96 EPS for the current fiscal year.

A number of equities analysts recently commented on the stock. Morgan Stanley raised shares of Heartland Express from an “underweight” rating to an “equal weight” rating and set a $16.00 price target on the stock in a research report on Tuesday, March 15th. StockNews.com raised shares of Heartland Express from a “hold” rating to a “buy” rating in a report on Wednesday, April 27th. Stephens decreased their target price on shares of Heartland Express from $18.00 to $15.00 in a report on Friday, April 1st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Heartland Express from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.25.

Several institutional investors have recently made changes to their positions in HTLD. Norges Bank bought a new stake in shares of Heartland Express during the 4th quarter valued at approximately $9,748,000. Goldman Sachs Group Inc. lifted its position in shares of Heartland Express by 67.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 611,434 shares of the transportation company’s stock worth $10,284,000 after purchasing an additional 245,743 shares during the period. State Street Corp lifted its position in shares of Heartland Express by 11.5% in the 4th quarter. State Street Corp now owns 2,110,891 shares of the transportation company’s stock worth $35,505,000 after purchasing an additional 218,007 shares during the period. Keeley Teton Advisors LLC acquired a new position in shares of Heartland Express in the 1st quarter worth approximately $1,994,000. Finally, Bank of America Corp DE lifted its position in shares of Heartland Express by 118.5% in the 1st quarter. Bank of America Corp DE now owns 258,327 shares of the transportation company’s stock worth $3,635,000 after purchasing an additional 140,081 shares during the period. 54.82% of the stock is currently owned by institutional investors.

Heartland Express Company Profile (Get Rating)

Heartland Express, Inc, together with its subsidiaries, operates as a short-to-medium haul truckload carrier in the United States and Canada. It primarily provides nationwide asset-based dry van truckload service for shippers from Washington to Florida and New England to California; and temperature-controlled truckload services.

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Dividend History for Heartland Express (NASDAQ:HTLD)

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