Heartland Express (NASDAQ:HTLD) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Key Points

• Heartland Express reported a quarterly EPS of ($0.14), missing estimates by ($0.06) and showing a 23.4% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.02 per share, resulting in an annualized dividend yield of 0.96%.
• Analysts have mixed opinions on the stock, with most ratings falling between "hold" and "sell", reflecting a consensus price target of $9.75.

Heartland Express (NASDAQ:HTLD - Get Free Report) posted its quarterly earnings data on Thursday. The transportation company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06), Zacks reports. The company had revenue of $210.39 million during the quarter, compared to the consensus estimate of $229.12 million. Heartland Express had a negative return on equity of 4.38% and a negative net margin of 3.85%. The firm's quarterly revenue was down 23.4% compared to the same quarter last year. During the same period last year, the business earned ($0.04) EPS.

Heartland Express Stock Performance

HTLD stock traded up $0.07 during midday trading on Friday, reaching $8.36. The stock had a trading volume of 674,561 shares, compared to its average volume of 547,565. The stock has a market cap of $656.68 million, a PE ratio of -18.17 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a fifty day simple moving average of $8.83 and a two-hundred day simple moving average of $9.43. Heartland Express has a 52-week low of $7.11 and a 52-week high of $13.45.

Heartland Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 23rd were given a $0.02 dividend. The ex-dividend date was Monday, June 23rd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.96%. Heartland Express's payout ratio is -22.22%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on HTLD shares. Baird R W raised Heartland Express to a "hold" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. decreased their price objective on Heartland Express from $10.00 to $9.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Robert W. Baird initiated coverage on Heartland Express in a research note on Tuesday, July 1st. They set a "neutral" rating and a $9.00 target price on the stock. Wall Street Zen downgraded Heartland Express from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Finally, Barclays reduced their price objective on Heartland Express from $11.00 to $9.00 and set an "underweight" rating on the stock in a report on Wednesday, April 2nd. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $9.75.

Insider Buying and Selling

In other news, CEO Michael J. Gerdin bought 148,272 shares of Heartland Express stock in a transaction that occurred on Friday, May 9th. The stock was bought at an average price of $8.50 per share, for a total transaction of $1,260,312.00. Following the purchase, the chief executive officer directly owned 438,282 shares of the company's stock, valued at approximately $3,725,397. The trade was a 51.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James G. Pratt acquired 6,571 shares of Heartland Express stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $8.96 per share, with a total value of $58,876.16. Following the purchase, the director directly owned 30,000 shares in the company, valued at approximately $268,800. The trade was a 28.05% increase in their position. The disclosure for this purchase can be found here. Insiders bought 619,031 shares of company stock worth $5,125,232 in the last 90 days. Insiders own 40.70% of the company's stock.

Hedge Funds Weigh In On Heartland Express

Several institutional investors and hedge funds have recently modified their holdings of HTLD. Jane Street Group LLC acquired a new stake in Heartland Express in the 1st quarter worth about $907,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Heartland Express by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,708 shares of the transportation company's stock valued at $255,000 after purchasing an additional 1,170 shares during the period. Finally, Caxton Associates LLP purchased a new stake in Heartland Express in the first quarter valued at approximately $133,000. Hedge funds and other institutional investors own 53.45% of the company's stock.

Heartland Express Company Profile

Heartland Express, Inc, together with its subsidiaries, operates as a short-to-medium, and long-haul truckload carrier in the United States and Canada. It primarily provides nationwide asset-based dry van truckload service for shippers; cross-border freight and other transportation services; and temperature-controlled truckload services.

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