J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) declared a quarterly dividend on Thursday, July 20th, RTT News reports. Investors of record on Monday, August 7th will be given a dividend of 0.23 per share by the transportation company on Friday, August 18th. This represents a $0.92 annualized dividend and a yield of 0.97%. The ex-dividend date is Thursday, August 3rd.
J.B. Hunt Transport Services has raised its dividend by an average of 25.1% annually over the last three years and has raised its dividend every year for the last 13 years. J.B. Hunt Transport Services has a payout ratio of 23.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect J.B. Hunt Transport Services to earn $4.45 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 20.7%.
J.B. Hunt Transport Services (NASDAQ JBHT) traded up 2.82% during trading on Friday, reaching $94.70. The company had a trading volume of 1,306,596 shares. J.B. Hunt Transport Services has a one year low of $76.20 and a one year high of $102.38. The company has a market capitalization of $10.36 billion, a PE ratio of 24.84 and a beta of 0.94. The firm’s 50 day moving average is $91.36 and its 200 day moving average is $91.98.
J.B. Hunt Transport Services (NASDAQ:JBHT) last announced its quarterly earnings results on Monday, July 17th. The transportation company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by $0.04. J.B. Hunt Transport Services had a net margin of 6.32% and a return on equity of 30.00%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm earned $0.92 earnings per share. J.B. Hunt Transport Services’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that J.B. Hunt Transport Services will post $3.88 earnings per share for the current year.
J.B. Hunt Transport Services announced that its Board of Directors has approved a share repurchase plan on Thursday, April 20th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the transportation company to repurchase up to 51% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
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A number of brokerages have recently commented on JBHT. BidaskClub raised shares of J.B. Hunt Transport Services from a “strong sell” rating to a “sell” rating in a report on Friday. Zacks Investment Research raised shares of J.B. Hunt Transport Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $91.00 target price on shares of J.B. Hunt Transport Services in a report on Sunday, July 23rd. Loop Capital reaffirmed a “buy” rating and issued a $103.00 target price (down from $105.00) on shares of J.B. Hunt Transport Services in a report on Saturday, July 22nd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $105.00 target price (up from $100.00) on shares of J.B. Hunt Transport Services in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $98.73.
In other J.B. Hunt Transport Services news, insider John N. Roberts sold 7,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $91.25, for a total value of $638,750.00. Following the sale, the insider now owns 267,377 shares of the company’s stock, valued at $24,398,151.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David G. Mee sold 10,767 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $91.29, for a total transaction of $982,919.43. Following the completion of the sale, the chief financial officer now directly owns 109,500 shares in the company, valued at approximately $9,996,255. The disclosure for this sale can be found here. Insiders have sold 32,448 shares of company stock worth $2,979,740 over the last 90 days. 4.30% of the stock is currently owned by company insiders.
About J.B. Hunt Transport Services
J.B. Hunt Transport Services, Inc is a surface transportation, delivery, and logistics company in North America. The Company segments include Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS) and Truck (JBT). The Company, through its subsidiaries, provides transportation and delivery services to a range of customers and consumers throughout the continental United States, Canada and Mexico.
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