Landstar System Inc. (LSTR) Issues Q4 Earnings Guidance
Landstar System Inc. (NASDAQ:LSTR) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.85-0.90 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.82. The company issued revenue guidance of $800-850 million, compared to the consensus revenue estimate of $801.66 million.
Several research analysts have commented on the stock. Citigroup Inc. downgraded shares of Landstar System to a market perform rating in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Oppenheimer Holdings Inc. downgraded shares of Landstar System to an outperform rating in a report on Tuesday, August 2nd. Finally, Zacks Investment Research raised shares of Landstar System from a sell rating to a hold rating in a report on Thursday, September 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $62.66.
Shares of Landstar System Inc. (NASDAQ:LSTR) remained flat at $65.75 during trading on Wednesday. The company had a trading volume of 1,147,126 shares. The firm has a 50 day moving average price of $67.29 and a 200 day moving average price of $67.44. The firm has a market cap of $2.77 billion, a P/E ratio of 20.32 and a beta of 0.80. Landstar System Inc. has a 52 week low of $53.03 and a 52 week high of $72.97.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $788 million for the quarter, compared to analyst estimates of $576.65 million. Landstar System had a net margin of 4.37% and a return on equity of 28.83%. Landstar System’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. On average, equities analysts predict that Landstar System Inc. will post $3.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Tuesday, November 8th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.55%. Landstar System’s payout ratio is presently 11.15%.
In related news, CMO Patrick J. O’malley sold 1,787 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $69.17, for a total transaction of $123,606.79. Following the transaction, the chief marketing officer now directly owns 40,237 shares in the company, valued at $2,783,193.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlueMountain Capital Management LLC raised its position in Landstar System by 227.3% in the second quarter. BlueMountain Capital Management LLC now owns 43,854 shares of the company’s stock worth $3,011,000 after buying an additional 30,457 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Landstar System during the second quarter worth $542,000. Sei Investments Co. raised its position in Landstar System by 155.2% in the second quarter. Sei Investments Co. now owns 19,279 shares of the company’s stock worth $1,324,000 after buying an additional 11,726 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Landstar System by 173.7% in the second quarter. Janney Montgomery Scott LLC now owns 23,104 shares of the company’s stock worth $1,586,000 after buying an additional 14,663 shares during the last quarter. Finally, Comerica Bank raised its position in Landstar System by 1.7% in the second quarter. Comerica Bank now owns 29,973 shares of the company’s stock worth $2,079,000 after buying an additional 507 shares during the last quarter.
Landstar System Company Profile
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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