Heartland Express, Inc. (NASDAQ:HTLD – Get Rating) saw unusually-strong trading volume on Tuesday following a stronger than expected earnings report. Approximately 6,800 shares were traded during trading, a decline of 97% from the previous session’s volume of 195,092 shares.The stock last traded at $15.29 and had previously closed at $14.76.
The transportation company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.72. Heartland Express had a return on equity of 11.27% and a net margin of 13.58%. The company had revenue of $187.20 million for the quarter, compared to analysts’ expectations of $164.27 million. During the same period in the previous year, the firm posted $0.26 EPS. Heartland Express’s revenue was up 21.5% compared to the same quarter last year.
Heartland Express Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Monday, June 27th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, June 24th. Heartland Express’s payout ratio is 7.69%.
Analyst Upgrades and Downgrades
Institutional Trading of Heartland Express
Several institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Heartland Express during the 2nd quarter valued at approximately $187,000. KBC Group NV purchased a new stake in shares of Heartland Express during the 2nd quarter valued at approximately $46,000. Ziegler Capital Management LLC raised its position in shares of Heartland Express by 3.1% during the 2nd quarter. Ziegler Capital Management LLC now owns 94,712 shares of the transportation company’s stock valued at $1,317,000 after buying an additional 2,880 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Heartland Express by 3.1% during the 2nd quarter. Exchange Traded Concepts LLC now owns 94,283 shares of the transportation company’s stock valued at $1,311,000 after buying an additional 2,798 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Heartland Express by 8.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 35,225 shares of the transportation company’s stock valued at $489,000 after buying an additional 2,860 shares during the period. Hedge funds and other institutional investors own 54.82% of the company’s stock.
Heartland Express Stock Performance
The stock has a market cap of $1.21 billion, a PE ratio of 14.72 and a beta of 0.49. The company’s 50-day moving average price is $14.10 and its 200 day moving average price is $14.27.
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. It 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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