Analysts expect that Landstar System, Inc. (NASDAQ:LSTR) will report earnings of $1.05 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Landstar System’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $1.27. Landstar System reported earnings per share of $0.77 in the same quarter last year, which indicates a positive year over year growth rate of 36.4%. The company is expected to announce its next earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Landstar System will report full-year earnings of $4.52 per share for the current year, with EPS estimates ranging from $3.90 to $5.15. For the next fiscal year, analysts forecast that the firm will report earnings of $5.31 per share, with EPS estimates ranging from $4.17 to $6.05. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Landstar System.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.06. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Landstar System had a return on equity of 25.30% and a net margin of 4.86%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 earnings per share.
A number of analysts have recently issued reports on LSTR shares. Cowen reaffirmed a “market perform” rating and set a $115.00 target price (up from $97.00) on shares of Landstar System in a research report on Thursday, February 1st. KeyCorp reaffirmed a “buy” rating and set a $125.00 target price on shares of Landstar System in a research report on Friday. Buckingham Research lifted their target price on Landstar System from $114.00 to $126.00 and gave the stock a “neutral” rating in a research report on Friday. Zacks Investment Research raised Landstar System from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a research report on Wednesday, January 10th. Finally, Cleveland Research raised Landstar System from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $105.75.
Landstar System (LSTR) opened at $109.35 on Tuesday. The company has a market capitalization of $4,590.00, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.86 and a beta of 0.81. Landstar System has a one year low of $80.00 and a one year high of $118.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.96 and a current ratio of 1.75.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Monday, February 19th will be issued a $0.15 dividend. This is a positive change from Landstar System’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, February 15th. Landstar System’s payout ratio is currently 9.50%.
Landstar System announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 13th that permits the company to repurchase 1,960,000 shares. This repurchase authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, COO Joseph J. Beacom sold 9,805 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $98.32, for a total value of $964,027.60. Following the completion of the sale, the chief operating officer now directly owns 55,649 shares of the company’s stock, valued at $5,471,409.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dr. Homaira Akbari sold 1,000 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $98.30, for a total value of $98,300.00. Following the completion of the sale, the director now directly owns 6,656 shares of the company’s stock, valued at $654,284.80. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. First Manhattan Co. bought a new stake in Landstar System in the fourth quarter valued at about $104,000. Advisor Group Inc. grew its holdings in shares of Landstar System by 64.8% during the second quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 599 shares during the last quarter. Zions Bancorporation bought a new position in shares of Landstar System during the third quarter valued at approximately $167,000. PNC Financial Services Group Inc. grew its holdings 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 purchasing an additional 373 shares during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Landstar System during the second quarter valued at approximately $202,000. 98.06% of the stock is owned by hedge funds and other institutional investors.
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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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