Landstar System, Inc. (LSTR) To Go Ex-Dividend on May 7th

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

Landstar System has raised its dividend payment by an average of 16.8% annually over the last three years and has increased its dividend every year for the last 9 years. Landstar System has a 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 Trading Up 1.8 %

NASDAQ:LSTR opened at $180.14 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.00 and a current ratio of 2.22. Landstar System has a 1 year low of $161.13 and a 1 year high of $208.62. The stock has a market cap of $6.44 billion, a P/E ratio of 27.71, a P/E/G ratio of 4.91 and a beta of 0.86. The stock has a 50-day simple moving average of $182.64 and a 200-day simple moving average of $183.43.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share (EPS) 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 firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. As a group, analysts anticipate that Landstar System will post 6.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $190.30, for a total value of $2,325,275.70. Following the transaction, the vice president now directly owns 61,127 shares of the company’s stock, valued at approximately $11,632,468.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

LSTR has been the subject of a number of research reports. Wolfe Research raised shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target for the company in a research report on Wednesday, January 10th. Stifel Nicolaus dropped their price target on Landstar System from $166.00 to $164.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. Susquehanna cut their price target on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. UBS Group increased their price objective on Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Landstar System from $165.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Landstar System has an average rating of “Hold” and a consensus target price of $183.91.

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.