Heartland Express (NASDAQ:HTLD) Releases Earnings Results, Meets Expectations

Heartland Express (NASDAQ:HTLD) issued its quarterly earnings results on Friday. The transportation company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25, Briefing.com reports. The business had revenue of $162.28 million during the quarter, compared to analyst estimates of $165.75 million. Heartland Express had a net margin of 10.23% and a return on equity of 9.57%. Heartland Express’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share.

NASDAQ:HTLD opened at $19.61 on Friday. The stock has a market cap of $1.60 billion, a P/E ratio of 24.20 and a beta of 0.55. The stock has a 50 day simple moving average of $19.74 and a 200 day simple moving average of $20.15. Heartland Express has a 1-year low of $15.65 and a 1-year high of $22.75.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 21st were issued a dividend of $0.02 per share. The ex-dividend date was Friday, September 18th. This represents a $0.08 annualized dividend and a yield of 0.41%. Heartland Express’s payout ratio is currently 8.99%.

A number of research firms have commented on HTLD. JPMorgan Chase & Co. raised shares of Heartland Express from an “underweight” rating to a “neutral” rating and set a $20.00 target price for the company in a report on Friday, October 9th. They noted that the move was a valuation call. Morgan Stanley boosted their price target on shares of Heartland Express from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, October 5th. Wolfe Research raised shares of Heartland Express from an “underperform” rating to a “peer perform” rating in a report on Friday, July 17th. Zacks Investment Research lowered shares of Heartland Express from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Finally, TheStreet lowered shares of Heartland Express from a “b” rating to a “c+” rating in a report on Tuesday, September 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Heartland Express presently has a consensus rating of “Hold” and a consensus price target of $21.50.

In other news, major shareholder Michael J. Gerdin sold 3,260,870 shares of Heartland Express stock in a transaction on Friday, July 24th. The stock was sold at an average price of $20.02, for a total value of $65,282,617.40. Following the transaction, the insider now owns 681,124 shares in the company, valued at approximately $13,636,102.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ann S. Gerdin Revocable Trust sold 489,130 shares of Heartland Express stock in a transaction on Friday, August 14th. The shares were sold at an average price of $20.02, for a total value of $9,792,382.60. Following the completion of the transaction, the insider now owns 681,124 shares in the company, valued at approximately $13,636,102.48. The disclosure for this sale can be found here. 43.00% of the stock is owned by insiders.

Heartland Express Company Profile

Heartland Express, Inc, together with its subsidiaries, operates as a short-to-medium haul truckload carrier in the United States and Canada. The company primarily provides nationwide asset-based dry van truckload service for shippers from Washington to Florida and New England to California; and temperature-controlled truckload services.

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Earnings History for Heartland Express (NASDAQ:HTLD)

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