Landstar System, Inc. (NASDAQ:LSTR) to Issue $0.40 Quarterly Dividend

Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Wednesday, January 28th. Stockholders of record on Wednesday, February 18th will be paid a dividend of 0.40 per share by the transportation company on Wednesday, March 11th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, February 18th.

Landstar System has increased its dividend payment by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Landstar System has a dividend payout ratio of 25.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Landstar System to earn $7.35 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 21.8%.

Landstar System Price Performance

Shares of NASDAQ LSTR traded down $2.21 during trading hours on Thursday, reaching $151.31. 211,400 shares of the stock traded hands, compared to its average volume of 475,882. The company has a market capitalization of $5.20 billion, a P/E ratio of 38.60 and a beta of 0.84. The company’s 50-day simple moving average is $143.81 and its two-hundred day simple moving average is $134.67. Landstar System has a 52-week low of $119.32 and a 52-week high of $170.00. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Landstar System had a return on equity of 17.24% and a net margin of 2.87%.Landstar System’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm earned $1.41 earnings per share. Equities research analysts forecast that Landstar System will post 6.1 EPS for the current year.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.