Wall Street analysts predict that Landstar System, Inc. (NASDAQ:LSTR) will post earnings per share of $1.01 for the current quarter, Zacks reports. Seven analysts have made estimates for Landstar System’s earnings. The highest EPS estimate is $1.03 and the lowest is $1.00. Landstar System reported earnings per share of $0.94 in the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The company is expected to issue its next earnings report on Wednesday, February 7th.
According to Zacks, analysts expect that Landstar System will report full year earnings of $3.68 per share for the current financial year, with EPS estimates ranging from $3.58 to $3.71. For the next financial year, analysts forecast that the firm will post earnings of $4.18 per share, with EPS estimates ranging from $3.85 to $4.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Landstar System.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.05. The firm had revenue of $943.40 million during the quarter, compared to the consensus estimate of $895.31 million. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the company posted $0.86 EPS.
LSTR has been the subject of a number of research analyst reports. Cowen and Company reiterated a “hold” rating and set a $86.00 price target on shares of Landstar System in a research report on Monday, August 28th. KeyCorp reiterated a “buy” rating and set a $110.00 price target on shares of Landstar System in a research report on Tuesday, October 3rd. Wells Fargo & Company lifted their price target on Landstar System from $83.00 to $98.00 and gave the company a “market perform” rating in a research report on Friday, October 27th. Morgan Stanley raised their price objective on Landstar System from $68.00 to $73.00 and gave the company an “underweight” rating in a report on Thursday, October 5th. Finally, Deutsche Bank AG cut Landstar System from a “buy” rating to a “hold” rating and decreased their price objective for the company from $97.00 to $87.00 in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $96.67.
In other Landstar System news, CFO L Kevin Stout sold 5,000 shares of Landstar System stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $99.00, for a total value of $495,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael K. Kneller sold 10,000 shares of Landstar System stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the transaction, the vice president now directly owns 22,153 shares in the company, valued at $2,193,147. The disclosure for this sale can be found here. Insiders sold a total of 39,805 shares of company stock worth $3,929,828 over the last ninety days. Insiders own 1.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in LSTR. Advisor Group Inc. increased its stake in Landstar System by 64.8% in the 2nd quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock worth $130,000 after purchasing an additional 599 shares during the period. IFP Advisors Inc increased its stake in shares of Landstar System by 2.9% during the second quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock valued at $141,000 after buying an additional 47 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Landstar System by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock valued at $156,000 after buying an additional 224 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Landstar System by 22.9% during the second quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock valued at $171,000 after buying an additional 373 shares during the period. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Landstar System during the second quarter valued at approximately $202,000. 99.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Landstar System (NASDAQ LSTR) traded down $0.55 on Friday, hitting $96.35. The stock had a trading volume of 321,400 shares, compared to its average volume of 299,364. The company has a market cap of $4,030.00, a P/E ratio of 26.84, a PEG ratio of 1.95 and a beta of 0.80. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.12. Landstar System has a 12-month low of $79.60 and a 12-month high of $102.55.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders 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 0.42%. Landstar System’s dividend payout ratio (DPR) is currently 11.05%.
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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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