Fintel reports that on August 7, 2023, Morgan Stanley maintained coverage of Heartland Express (NASDAQ:HTLD) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 9.03% Upside
As of August 2, 2023, the average one-year price target for Heartland Express is 16.93. The forecasts range from a low of 13.13 to a high of $18.90. The average price target represents an increase of 9.03% from its latest reported closing price of 15.53.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Heartland Express is 1,247MM, a decrease of 1.50%. The projected annual non-GAAP EPS is 1.13.
Heartland Express Declares $0.02 Dividend
On June 16, 2023 the company declared a regular quarterly dividend of $0.02 per share ($0.08 annualized). Shareholders of record as of June 26, 2023 received the payment on July 6, 2023. Previously, the company paid $0.02 per share.
At the current share price of $15.53 / share, the stock's dividend yield is 0.52%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.45%, the lowest has been 0.36%, and the highest has been 0.62%. The standard deviation of yields is 0.06 (n=236).
The current dividend yield is 1.02 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 454 funds or institutions reporting positions in Heartland Express. This is a decrease of 6 owner(s) or 1.30% in the last quarter. Average portfolio weight of all funds dedicated to HTLD is 0.12%, a decrease of 12.53%. Total shares owned by institutions decreased in the last three months by 4.09% to 49,872K shares. 
The put/call ratio of HTLD is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
American Century Companies holds 7,719K shares representing 9.77% ownership of the company. In it's prior filing, the firm reported owning 7,984K shares, representing a decrease of 3.44%. The firm decreased its portfolio allocation in HTLD by 3.24% over the last quarter.
ACMVX - Mid Cap Value Fund Investor Class holds 4,091K shares representing 5.18% ownership of the company. In it's prior filing, the firm reported owning 4,104K shares, representing a decrease of 0.32%. The firm increased its portfolio allocation in HTLD by 1.63% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 3,389K shares representing 4.29% ownership of the company. In it's prior filing, the firm reported owning 3,452K shares, representing a decrease of 1.85%. The firm decreased its portfolio allocation in HTLD by 0.99% over the last quarter.
ArrowMark Colorado Holdings holds 2,256K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 2,515K shares, representing a decrease of 11.50%. The firm decreased its portfolio allocation in HTLD by 11.39% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,423K shares representing 1.80% ownership of the company. In it's prior filing, the firm reported owning 1,421K shares, representing an increase of 0.17%. The firm decreased its portfolio allocation in HTLD by 4.01% over the last quarter.
Heartland Express Background Information
(This description is provided by the company.)
Heartland Express is an irregular route truckload carrier based in North Liberty, Iowa serving customers with shipping lanes throughout the United States. Heartland focuses on medium to short haul regional freight, offering shippers industry leading on-time service so they can achieve their strategic goals for their customers.
Additional reading:
- HEARTLAND EXPRESS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 OPERATING REVENUE $ 306,169 $ 187,821 $ 637,085 $ 339,097 OP
- For further information contact Michael J. Gerdin, CEO Christopher A. Strain, CFO Heartland Express, Inc.
- HEARTLAND EXPRESS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share amounts) Three Months Ended March 31, 2023 2022 OPERATING REVENUE $ 330,916 $ 151,275 OPERATING EXPENSES: Salaries, wages, and benefits $ 123,3
- For further information contact Michael J. Gerdin, CEO Christopher A. Strain, CFO Heartland Express, Inc.
- Subsidiaries of the Registrant State of Incorporation Heartland Express, Inc. Parent NV Heartland Express, Inc. of Iowa Subsidiary IA Heartland Express Maintenance Services, Inc. Subsidiary NV Heartland Express Services, Inc. Subsidiary NV Midwest Ho
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
