Landstar System, Inc. (LSTR) To Go Ex-Dividend on January 7th

Landstar System, Inc. (NASDAQ:LSTR) announced a special dividend on Monday, December 9th,RTT News reports. Shareholders of record on Tuesday, January 7th will be given a dividend of 2.00 per share by the transportation company on Tuesday, January 21st. The ex-dividend date is Tuesday, January 7th. This is a positive change from Landstar System’s previous special dividend of $1.50.

Landstar System has increased its dividend by an average of 14.5% annually over the last three years. Landstar System has a dividend payout ratio of 18.3% 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 Stock Up 1.5 %

Shares of NASDAQ:LSTR opened at $172.93 on Friday. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 29.66 and a beta of 0.83. Landstar System has a 12-month low of $165.39 and a 12-month high of $200.43. The business has a 50-day moving average price of $181.57 and a 200 day moving average price of $183.30. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Landstar System

In related 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 value of $184,320.00. Following the transaction, the chief financial officer now owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.