Landstar System, Inc. (NASDAQ:LSTR) Declares Quarterly Dividend of $0.40

Landstar System, Inc. (NASDAQ:LSTR) announced a quarterly dividend on Wednesday, May 14th, Wall Street Journal reports. Investors of record on Thursday, June 5th will be paid a dividend of 0.40 per share by the transportation company on Tuesday, June 24th. This represents a $1.60 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, June 5th. This is a 11.1% increase from Landstar System’s previous quarterly dividend of $0.36.

Landstar System has raised its dividend by an average of 14.5% annually over the last three years and has increased its dividend every year for the last 10 years. Landstar System has a payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Landstar System to earn $7.35 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 19.6%.

Landstar System Stock Performance

Shares of Landstar System stock opened at $142.45 on Thursday. The company has a market capitalization of $4.98 billion, a PE ratio of 25.81 and a beta of 0.92. The company has a 50-day simple moving average of $142.07 and a two-hundred day simple moving average of $162.84. Landstar System has a one year low of $128.99 and a one year high of $196.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.07). The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Landstar System had a return on equity of 19.56% and a net margin of 4.07%. Research analysts expect that Landstar System will post 6.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on LSTR. Susquehanna cut their price target on shares of Landstar System from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. TD Cowen lowered their price objective on Landstar System from $161.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. Benchmark restated a “hold” rating on shares of Landstar System in a research note on Monday, April 14th. Jefferies Financial Group decreased their price target on Landstar System from $170.00 to $150.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Finally, Truist Financial dropped their price target on Landstar System from $150.00 to $135.00 and set a “hold” rating on the stock in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $153.08.

Landstar System Company Profile

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.