Landstar System, Inc. (NASDAQ:LSTR) Shares to Pay Quarterly Dividend of $0.44

Landstar System, Inc. (NASDAQ:LSTR) announced a quarterly dividend on Tuesday, October 27th. Investors of record on Tuesday, November 17th will be given a dividend of $0.44 per share by the transportation company on Tuesday, December 8th. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, November 17th.

Landstar System has a dividend payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Landstar System to earn $7.52 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 23.4%.

Landstar System Trading Up 2.2%

Shares of Landstar System stock opened at $168.78 on Wednesday. The company’s fifty day simple moving average is $172.65 and its two-hundred day simple moving average is $176.75. The company has a market cap of $5.73 billion, a P/E ratio of 43.73 and a beta of 0.90. Landstar System has a 12-month low of $121.11 and a 12-month high of $228.46.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, October 27th. The transportation company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.25). The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business earned $1.22 EPS. The company’s quarterly revenue was up 25.4% on a year-over-year basis. Analysts predict that Landstar System will post 5.87 EPS for the current fiscal year.

Key Headlines Impacting Landstar System

Here are the key news stories impacting Landstar System this week:

• Positive Sentiment: Landstar reported third-quarter revenue of $1.512 billion, up 25% year over year and slightly ahead of the $1.50 billion consensus estimate. Gross profit increased 14%, while variable contribution rose 25%, indicating solid freight-volume and operating improvement. Landstar third-quarter results
• Positive Sentiment: The company declared a quarterly dividend of $0.44 per share, or $1.76 annualized, representing an approximately 1.0% yield. The dividend provides ongoing shareholder returns, although the ex-dividend date is November 17.
• Positive Sentiment: Robert W. Baird maintained an Outperform rating and lowered its price target from $215 to $195. Despite the reduction, the new target implies approximately 15.5% upside from the referenced price. Robert W. Baird rating

Landstar System Company Profile

Landstar System, Inc (NASDAQ: LSTR) is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar’s services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.