Landstar System (NASDAQ:LSTR) Updates Q2 2024 Earnings Guidance

Landstar System (NASDAQ:LSTR) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.350-1.550 for the period, compared to the consensus EPS estimate of 1.790. The company issued revenue guidance of $1.2 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. Landstar System also updated its Q2 guidance to $1.35-1.55 EPS.

Analysts Set New Price Targets

Several research analysts have weighed in on LSTR shares. Wolfe Research raised shares of Landstar System from a peer perform rating to an outperform rating and set a $205.00 target price for the company in a research note on Wednesday, January 10th. Wells Fargo & Company raised their price objective on shares of Landstar System from $165.00 to $180.00 and gave the company an equal weight rating in a research note on Friday, February 2nd. Benchmark reaffirmed a hold rating on shares of Landstar System in a research report on Friday. UBS Group lifted their price objective on Landstar System from $175.00 to $200.00 and gave the company a neutral rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus decreased their price objective on Landstar System from $171.00 to $166.00 and set a hold rating for the company in a research note on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $184.09.

Landstar System Stock Down 0.1 %

Shares of NASDAQ LSTR traded down $0.17 during midday trading on Friday, hitting $177.26. 313,188 shares of the company’s stock were exchanged, compared to its average volume of 270,637. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.00. Landstar System has a twelve month low of $161.13 and a twelve month high of $208.62. The company has a market cap of $6.34 billion, a PE ratio of 27.27, a P/E/G ratio of 4.68 and a beta of 0.83. The firm’s fifty day simple moving average is $184.33 and its 200-day simple moving average is $183.48.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Landstar System had a return on equity of 23.11% and a net margin of 4.63%. Research analysts predict that Landstar System will post 6.71 EPS for the current fiscal year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, May 7th. Landstar System’s dividend payout ratio (DPR) is 20.31%.

Insiders Place Their Bets

In other news, VP Michael K. Kneller sold 12,219 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $190.30, for a total value of $2,325,275.70. Following the transaction, the vice president now owns 61,127 shares of the company’s stock, valued at $11,632,468.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.