Landstar System, Inc. (LSTR) Expected to Post Quarterly Sales of $1.00 Billion
Analysts predict that Landstar System, Inc. (NASDAQ:LSTR) will post sales of $1.00 billion for the current quarter, Zacks reports. Seven analysts have made estimates for Landstar System’s earnings. The highest sales estimate is $1.02 billion and the lowest is $972.00 million. Landstar System posted sales of $892.83 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12%. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 7th.
According to Zacks, analysts expect that Landstar System will report full year sales of $1.00 billion for the current year, with estimates ranging from $3.57 billion to $3.61 billion. For the next year, analysts forecast that the firm will report sales of $3.89 billion per share, with estimates ranging from $3.78 billion to $4.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Landstar System.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.05. The company had revenue of $943.40 million during the quarter, compared to the consensus estimate of $895.31 million. Landstar System had a net margin of 4.36% and a return on equity of 25.53%. Landstar System’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS.
A number of equities analysts have recently weighed in on LSTR shares. Cowen and Company reaffirmed a “hold” rating and set a $86.00 price target on shares of Landstar System in a research note on Monday, August 28th. Deutsche Bank AG cut shares of Landstar System from a “buy” rating to a “hold” rating and lowered their price target for the stock from $97.00 to $87.00 in a research note on Monday, July 31st. Stephens raised shares of Landstar System from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $88.00 to $103.00 in a research note on Wednesday, August 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 price target on shares of Landstar System in a research note on Tuesday, September 12th. Finally, Buckingham Research started coverage on shares of Landstar System in a research note on Friday, October 20th. They set a “neutral” rating and a $103.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Landstar System presently has a consensus rating of “Hold” and a consensus target price of $96.67.
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In other Landstar System news, CFO L Kevin Stout sold 5,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $99.00, for a total value of $495,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michael K. Kneller sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the transaction, the vice president now owns 22,153 shares in the company, valued at $2,193,147. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,805 shares of company stock worth $3,929,828. 1.00% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Landstar System by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,119 shares of the transportation company’s stock valued at $524,000 after purchasing an additional 17 shares in the last quarter. Capstone Asset Management Co. lifted its holdings in Landstar System by 0.4% in the 2nd quarter. Capstone Asset Management Co. now owns 4,531 shares of the transportation company’s stock valued at $388,000 after purchasing an additional 20 shares in the last quarter. BB&T Corp lifted its holdings in Landstar System by 1.3% in the 2nd quarter. BB&T Corp now owns 3,033 shares of the transportation company’s stock valued at $260,000 after purchasing an additional 39 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Landstar System by 0.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 8,770 shares of the transportation company’s stock valued at $751,000 after purchasing an additional 40 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in Landstar System by 2.9% in the 2nd quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock valued at $141,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 99.05% of the company’s stock.
Landstar System (NASDAQ LSTR) traded up $0.40 during trading hours on Monday, hitting $96.90. 220,100 shares of the stock were exchanged, compared to its average volume of 299,263. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.96 and a current ratio of 1.96. Landstar System has a fifty-two week low of $79.10 and a fifty-two week high of $102.55. The firm has a market cap of $4,066.49, a PE ratio of 26.84, a PEG ratio of 1.95 and a beta of 0.80.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Tuesday, November 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. Landstar System’s payout ratio is 11.08%.
About Landstar System
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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