Heartland Express (NASDAQ:HTLD) posted its quarterly earnings results on Friday. The transportation company reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25, Briefing.com reports. The business had revenue of $162.28 million during the quarter, compared to analyst estimates of $165.75 million. Heartland Express had a net margin of 10.23% and a return on equity of 9.57%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share.
Heartland Express stock traded down $0.70 during mid-day trading on Friday, reaching $19.61. 314,216 shares of the stock traded hands, compared to its average volume of 374,455. The stock has a market capitalization of $1.60 billion, a PE ratio of 24.20 and a beta of 0.55. Heartland Express has a 12-month low of $15.65 and a 12-month high of $22.75. The business’s 50-day moving average is $19.74 and its 200-day moving average is $20.15.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 21st were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, September 18th. Heartland Express’s dividend payout ratio (DPR) is presently 8.99%.
In other Heartland Express news, major shareholder Michael J. Gerdin sold 3,260,870 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $20.02, for a total value of $65,282,617.40. Following the completion of the sale, the insider now owns 681,124 shares in the company, valued at $13,636,102.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Ann S. Gerdin Revocable Trust sold 489,130 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $20.02, for a total value of $9,792,382.60. Following the completion of the sale, the insider now owns 681,124 shares of the company’s stock, valued at approximately $13,636,102.48. The disclosure for this sale can be found here. 43.00% of the stock is currently owned by corporate insiders.
A number of research analysts recently issued reports on HTLD shares. KeyCorp boosted their price target on Heartland Express from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Zacks Investment Research cut Heartland Express from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. JPMorgan Chase & Co. upgraded Heartland Express from an “underweight” rating to a “neutral” rating and set a $20.00 price target on the stock in a research report on Friday, October 9th. They noted that the move was a valuation call. Wolfe Research upgraded Heartland Express from an “underperform” rating to a “peer perform” rating in a research report on Friday, July 17th. Finally, Barclays upgraded Heartland Express from an “underweight” rating to an “equal weight” rating and set a $20.00 price target on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.50.
About Heartland Express
Heartland Express, Inc, together with its subsidiaries, operates as a short-to-medium haul truckload carrier in the United States and Canada. The company 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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