Landstar System, Inc. (LSTR) Increases Dividend to $0.10 Per Share
Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Thursday, July 27th, NASDAQ reports. Stockholders of record on Monday, August 14th will be given a dividend of 0.10 per share by the transportation company on Friday, September 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Thursday, August 10th. This is a positive change from Landstar System’s previous quarterly dividend of $0.09.
Landstar System (LSTR) traded up 0.49% on Friday, hitting $82.00. The stock had a trading volume of 96,948 shares. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 24.62 and a beta of 0.76. The company’s 50-day moving average price is $86.68 and its 200 day moving average price is $85.40. Landstar System has a one year low of $65.05 and a one year high of $90.80.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $870.34 million during the quarter, compared to the consensus estimate of $859.30 million. Landstar System had a return on equity of 26.51% and a net margin of 4.34%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 EPS. Analysts expect that Landstar System will post $3.56 earnings per share for the current year.
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A number of analysts have recently commented on the company. Stifel Nicolaus upped their price objective on Landstar System from $81.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, April 28th. BidaskClub downgraded Landstar System from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Cowen and Company upped their price objective on Landstar System from $76.00 to $82.00 and gave the stock a “market perform” rating in a report on Thursday, April 27th. Finally, Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Thursday, July 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $85.50.
About Landstar System
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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