Analysts Anticipate Heartland Express, Inc. (HTLD) Will Post Quarterly Sales of $208.20 Million
Wall Street analysts expect Heartland Express, Inc. (NASDAQ:HTLD) to announce sales of $208.20 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Heartland Express’ earnings, with the lowest sales estimate coming in at $193.10 million and the highest estimate coming in at $239.90 million. Heartland Express reported sales of $149.32 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 39.4%. The company is expected to report its next quarterly earnings results on Thursday, October 19th.
On average, analysts expect that Heartland Express will report full-year sales of $208.20 million for the current financial year, with estimates ranging from $651.60 million to $729.60 million. For the next fiscal year, analysts anticipate that the company will report sales of $813.71 million per share, with estimates ranging from $746.00 million to $933.90 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Heartland Express.
Heartland Express (NASDAQ:HTLD) last announced its quarterly earnings results on Wednesday, August 2nd. The transportation company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $129.62 million during the quarter, compared to the consensus estimate of $139.89 million. Heartland Express had a net margin of 9.89% and a return on equity of 10.60%. The business’s revenue was down 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 earnings per share.
A number of brokerages have recently issued reports on HTLD. Zacks Investment Research raised Heartland Express from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday. BidaskClub raised Heartland Express from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Robert W. Baird reaffirmed a “hold” rating and issued a $26.00 target price on shares of Heartland Express in a research report on Friday, October 6th. J P Morgan Chase & Co boosted their target price on Heartland Express from $19.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, Stifel Nicolaus raised Heartland Express from a “hold” rating to a “buy” rating and boosted their target price for the company from $22.00 to $28.00 in a research report on Friday, September 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Heartland Express currently has a consensus rating of “Hold” and a consensus price target of $23.67.
In other Heartland Express news, EVP John P. Cosaert sold 7,146 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $22.54, for a total transaction of $161,070.84. Following the completion of the sale, the executive vice president now directly owns 57,668 shares of the company’s stock, valued at approximately $1,299,836.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 42.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Pinebridge Investments L.P. increased its holdings in Heartland Express by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,707 shares of the transportation company’s stock worth $119,000 after purchasing an additional 58 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Heartland Express by 52.7% during the 1st quarter. Victory Capital Management Inc. now owns 8,505 shares of the transportation company’s stock worth $171,000 after purchasing an additional 2,935 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Heartland Express by 78.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,546 shares of the transportation company’s stock worth $177,000 after purchasing an additional 3,766 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in Heartland Express by 1.6% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,890 shares of the transportation company’s stock worth $198,000 after purchasing an additional 160 shares in the last quarter. Finally, Mason Street Advisors LLC increased its holdings in Heartland Express by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 10,128 shares of the transportation company’s stock worth $203,000 after purchasing an additional 664 shares in the last quarter. 60.91% of the stock is owned by hedge funds and other institutional investors.
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Shares of Heartland Express (NASDAQ HTLD) traded up 0.190% during mid-day trading on Thursday, reaching $23.735. 19,691 shares of the company’s stock were exchanged. Heartland Express has a 1-year low of $17.06 and a 1-year high of $25.22. The stock has a market capitalization of $1.98 billion, a PE ratio of 36.515 and a beta of 0.55. The company’s 50 day moving average is $22.87 and its 200 day moving average is $21.01.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 22nd were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Thursday, September 21st. Heartland Express’s payout ratio is 12.12%.
About Heartland Express
Heartland Express, Inc is a holding company. The Company is a short-to-medium haul truckload carrier. The Company focuses primarily on short- to medium-haul, asset-based dry van truckload services in regional markets near its terminals. The Company’s truckload services are primarily asset-based transportation services in the dry van truckload market, and it also offers truckload temperature-controlled transportation services and non-asset based brokerage services.
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