Landstar System, Inc. (NASDAQ:LSTR) Announces Special Dividend of $2.00

Landstar System, Inc. (NASDAQ:LSTR) announced a special dividend on Tuesday, December 10th,RTT News reports. Investors of record on Tuesday, January 7th will be given a dividend of 2.00 per share by the transportation company on Tuesday, January 21st. This is an increase from Landstar System’s previous special dividend of $1.50.

Landstar System has raised its dividend payment by an average of 16.8% annually over the last three years. Landstar System has a dividend payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Landstar System to earn $7.01 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 20.5%.

Landstar System Price Performance

Shares of NASDAQ:LSTR traded up $1.91 during midday trading on Wednesday, hitting $190.00. The company’s stock had a trading volume of 21,636 shares, compared to its average volume of 254,109. The business’s 50 day simple moving average is $184.25 and its 200 day simple moving average is $183.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. The company has a market cap of $6.71 billion, a P/E ratio of 32.26 and a beta of 0.82. Landstar System has a 12-month low of $165.39 and a 12-month high of $201.40.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the firm earned $1.71 earnings per share. Landstar System’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, analysts forecast that Landstar System will post 5.57 EPS for the current year.

Insider Activity

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the transaction, the chief financial officer now directly owns 14,083 shares in the company, valued at $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group decreased their price target on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Raymond James downgraded shares of Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Susquehanna dropped their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Stephens decreased their target price on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $174.25.

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.