J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) to Post Q3 2023 Earnings of $1.89 Per Share, Zacks Research Forecasts

Posted by Defense World Staff on Aug 28th, 2023

J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT – Free Report) – Equities researchers at Zacks Research boosted their Q3 2023 earnings per share (EPS) estimates for J.B. Hunt Transport Services in a report issued on Thursday, August 24th. Zacks Research analyst S. Goswami now forecasts that the transportation company will post earnings per share of $1.89 for the quarter, up from their previous forecast of $1.87. The consensus estimate for J.B. Hunt Transport Services’ current full-year earnings is $7.72 per share. Zacks Research also issued estimates for J.B. Hunt Transport Services’ FY2023 earnings at $7.59 EPS, Q1 2024 earnings at $1.88 EPS, Q2 2024 earnings at $2.20 EPS, Q3 2024 earnings at $2.29 EPS, Q4 2024 earnings at $2.25 EPS, FY2024 earnings at $8.61 EPS and FY2025 earnings at $9.39 EPS.

JBHT has been the topic of several other reports. Evercore ISI increased their price objective on J.B. Hunt Transport Services from $191.00 to $195.00 in a research report on Tuesday, June 27th. Citigroup increased their target price on J.B. Hunt Transport Services from $200.00 to $207.00 and gave the company a “buy” rating in a report on Thursday, June 29th. StockNews.com assumed coverage on J.B. Hunt Transport Services in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Raymond James increased their target price on J.B. Hunt Transport Services from $195.00 to $200.00 in a report on Wednesday, July 19th. Finally, JPMorgan Chase & Co. raised J.B. Hunt Transport Services from a “neutral” rating to an “overweight” rating and set a $204.00 target price on the stock in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, J.B. Hunt Transport Services currently has a consensus rating of “Hold” and an average target price of $195.30.

Get Our Latest Analysis on J.B. Hunt Transport Services

J.B. Hunt Transport Services Trading Down 0.9 %

J.B. Hunt Transport Services stock opened at $187.66 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.21 and a quick ratio of 1.21. J.B. Hunt Transport Services has a one year low of $156.28 and a one year high of $209.21. The stock has a market capitalization of $19.39 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 1.62 and a beta of 1.15. The business’s fifty day moving average is $190.65 and its 200 day moving average is $181.00.

J.B. Hunt Transport Services (NASDAQ:JBHT – Get Free Report) last released its quarterly earnings data on Tuesday, July 18th. The transportation company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.09). J.B. Hunt Transport Services had a net margin of 6.19% and a return on equity of 23.06%. The business had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period last year, the business earned $2.42 earnings per share. The company’s quarterly revenue was down 18.4% on a year-over-year basis.

Hedge Funds Weigh In On J.B. Hunt Transport Services

Several hedge funds have recently bought and sold shares of the business. Banco Bilbao Vizcaya Argentaria S.A. grew its position in J.B. Hunt Transport Services by 2.0% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 2,582 shares of the transportation company’s stock valued at $467,000 after acquiring an additional 50 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of J.B. Hunt Transport Services by 0.9% in the 1st quarter. Mackenzie Financial Corp now owns 6,297 shares of the transportation company’s stock worth $1,264,000 after buying an additional 56 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of J.B. Hunt Transport Services by 0.5% in the 1st quarter. Yousif Capital Management LLC now owns 13,252 shares of the transportation company’s stock worth $2,661,000 after buying an additional 60 shares during the period. Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of J.B. Hunt Transport Services by 2.4% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 2,676 shares of the transportation company’s stock worth $467,000 after buying an additional 62 shares during the period. Finally, Desjardins Global Asset Management Inc. lifted its holdings in shares of J.B. Hunt Transport Services by 2.8% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 2,305 shares of the transportation company’s stock worth $404,000 after buying an additional 63 shares during the period. Institutional investors own 73.22% of the company’s stock.

Insider Buying and Selling

In related news, EVP Eric Mcgee sold 400 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $190.26, for a total value of $76,104.00. Following the transaction, the executive vice president now directly owns 500 shares of the company’s stock, valued at approximately $95,130. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Eric Mcgee sold 400 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $190.26, for a total transaction of $76,104.00. Following the transaction, the executive vice president now owns 500 shares of the company’s stock, valued at approximately $95,130. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David Keefauver sold 488 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $205.25, for a total value of $100,162.00. Following the transaction, the executive vice president now directly owns 699 shares in the company, valued at approximately $143,469.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,502 shares of company stock valued at $2,284,358. Corporate insiders own 3.10% of the company’s stock.

J.B. Hunt Transport Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 4th were issued a $0.42 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $1.68 dividend on an annualized basis and a yield of 0.90%. J.B. Hunt Transport Services’s dividend payout ratio is presently 20.51%.

About J.B. Hunt Transport Services

(Get Free Report)

J.B. Hunt Transport Services, Inc provides surface transportation, delivery, and logistic services in North America. It operates through five segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). The JBI segment offers intermodal freight solutions.