Heartland Express (NASDAQ:HTLD) Announces Earnings Results

Heartland Express (NASDAQ:HTLD) has published its earnings report for the recent quarter. The transportation company experienced earnings per share (EPS) of ($0.12), which fell short of the consensus estimate of ($0.01) by a margin of ($0.11). According to financial reports, Heartland Express faced a negative net margin of 2.17% and a negative return on equity of 2.84%. In terms of revenue, the firm reported $259.86 million for the quarter, compared to the anticipated revenue of $268.35 million by analysts. Looking back, during the same quarter last year, the company had reported an EPS of ($0.14). Notably, the revenue for this quarter shows a decline of 11.9% compared to the previous year.

Heartland Express Stock Performance

In midday trading on Tuesday, Heartland Express shares dropped by $0.30, settling at $11.08. The trading volume for the company was 143,627 shares, while the average volume is about 344,366 shares. Financial ratios include a quick ratio of 1.23, a current ratio of 1.23, and a debt-to-equity ratio of 0.27. Currently, Heartland Express has a market capitalization of $875.89 million, with a P/E ratio of -64.88 and a beta of 0.69. The stock hit a twelve-month low of $9.63 and a high of $14.60. The averages for the last fifty days and two hundred days are $11.91 and $11.76, respectively.

Heartland Express Dividend Announcement

Recently, Heartland Express announced a quarterly dividend which was distributed on Monday, October 7th. Shareholders who were recorded on Friday, September 27th, received a dividend of $0.02 per share. The ex-dividend date also fell on September 27th. This results in an annualized dividend of $0.08, translating to a yield of 0.72%. The company's dividend payout ratio is reported as -47.06%.

Insights from Wall Street Analysts

A number of equity analysts have shared their views on Heartland Express. JPMorgan Chase & Co. reaffirmed an "underweight" rating and adjusted its target price from $12.00 to $10.00 on July 9th. Similarly, UBS Group downgraded the rating from "buy" to "neutral" and cut the target price from $15.00 to $13.00 that same day. StockNews.com later upgraded Heartland Express from a "sell" rating to a "hold" rating on July 24th. Additionally, Barclays increased its target price from $10.00 to $11.00 while maintaining an "underweight" rating on August 1st. The overall ratings indicate that two analysts suggest a sell rating, while three recommend holding the stock. As per MarketBeat data, the average rating remains a "Hold" with a price target of approximately $12.00.

Insider Transactions

In related news, CEO Michael J. Gerdin purchased 50,000 shares of Heartland Express on September 11th, acquiring them at an average price of $11.67, totaling about $583,500. After this transaction, he holds 1,196,718 shares in the company, valued roughly at $13,965,699. This purchase represents a minimal increase in his ownership stake. The transaction details have been filed with the Securities and Exchange Commission (SEC). Company insiders currently own 39.60% of the stock.

About Heartland Express

Heartland Express, Inc., along with its subsidiaries, serves as a short, medium, and long-haul truckload carrier in the United States and Canada. The company specializes in providing dry van truckload service for shippers, cross-border freight services, and temperature-controlled truckload solutions.

Earnings, Stocks, Revenue