Landstar System, Inc. (NASDAQ:LSTR) Raises Dividend to $0.44 Per Share

Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Tuesday, July 28th. Shareholders of record on Tuesday, August 18th will be given a dividend of 0.44 per share by the transportation company on Wednesday, September 9th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, August 18th. This is a 10.0% increase from Landstar System’s previous quarterly dividend of $0.40.

Landstar System has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 10 years. Landstar System has a dividend payout ratio of 25.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Landstar System to earn $7.28 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 22.0%.

Landstar System Stock Down 3.7%

Shares of NASDAQ LSTR traded down $6.89 during mid-day trading on Wednesday, reaching $178.43. 50,411 shares of the company’s stock traded hands, compared to its average volume of 512,119. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. The business has a 50-day simple moving average of $208.49 and a 200 day simple moving average of $177.83. The stock has a market cap of $6.05 billion, a P/E ratio of 49.45 and a beta of 0.89. Landstar System has a 1-year low of $119.32 and a 1-year high of $228.46.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The company’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. On average, analysts expect that Landstar System will post 5.73 EPS for the current fiscal year.

Landstar System announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 shares. This repurchase authorization authorizes the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.