Landstar System, Inc. Announces Quarterly Dividend of $0.21 (NASDAQ:LSTR)


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Landstar System, Inc. (NASDAQ:LSTR) announced a quarterly dividend on Wednesday, April 21st, Zacks reports. Investors of record on Thursday, May 6th will be given a dividend of 0.21 per share by the transportation company on Friday, May 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Wednesday, May 5th.

Landstar System has raised its dividend payment by 107.9% over the last three years and has increased its dividend every year for the last 7 years. Landstar System has a payout ratio of 10.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Landstar System to earn $6.21 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 13.5%.

LSTR stock opened at $175.67 on Tuesday. The company’s 50 day moving average price is $169.20 and its 200 day moving average price is $148.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.77 and a current ratio of 1.77. Landstar System has a fifty-two week low of $99.02 and a fifty-two week high of $179.50. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 38.61, a PEG ratio of 1.97 and a beta of 0.99.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, April 20th. The transportation company reported $2.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.38. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a net margin of 4.62% and a return on equity of 28.19%. The business’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share. Equities analysts forecast that Landstar System will post 5.36 EPS for the current fiscal year.

LSTR has been the subject of a number of research analyst reports. Stephens downgraded Landstar System from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 31st. Robert W. Baird upped their price target on Landstar System from $176.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, April 23rd. Truist Securities upped their price target on Landstar System from $145.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, April 21st. The Goldman Sachs Group reissued a “sell” rating and issued a $140.00 price objective (down from $143.00) on shares of Landstar System in a report on Tuesday, March 16th. Finally, Oppenheimer reissued a “hold” rating on shares of Landstar System in a report on Sunday, January 31st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $248.87.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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 service providers.

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Dividend History for Landstar System (NASDAQ:LSTR)

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