Equities research analysts expect Landstar System, Inc. (NASDAQ:LSTR) to announce $1.08 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Landstar System’s earnings, with the highest sales estimate coming in at $1.12 billion and the lowest estimate coming in at $1.05 billion. Landstar System posted sales of $1.18 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 8.5%. The company is scheduled to report its next earnings report after the market closes on Wednesday, July 24th.
According to Zacks, analysts expect that Landstar System will report full year sales of $4.36 billion for the current financial year, with estimates ranging from $4.24 billion to $4.58 billion. For the next fiscal year, analysts expect that the company will report sales of $4.47 billion, with estimates ranging from $4.29 billion to $4.73 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Landstar System.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.06. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Landstar System had a return on equity of 37.24% and a net margin of 5.68%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 earnings per share.
LSTR has been the subject of several recent analyst reports. BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday. Buckingham Research cut At Home Group from a “buy” rating to an “underperform” rating in a research note on Friday, June 7th. Morgan Stanley set a $36.00 target price on ArcBest and gave the stock a “hold” rating in a research note on Monday. Cowen restated a “market perform” rating and set a $113.00 target price (down from $115.00) on shares of Landstar System in a research note on Thursday, June 6th. Finally, Wolfe Research upgraded Covenant Transportation Group from an “underperform” rating to a “peer perform” rating in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $109.44.
NASDAQ LSTR traded up $4.16 on Friday, hitting $109.05. 277,682 shares of the company’s stock were exchanged, compared to its average volume of 373,300. The business has a 50-day moving average price of $103.29. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.10. Landstar System has a 52 week low of $90.23 and a 52 week high of $128.70. The company has a market cap of $4.21 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26.
In other news, COO Joseph J. Beacom sold 5,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $114.12, for a total transaction of $570,600.00. Following the completion of the transaction, the chief operating officer now directly owns 45,924 shares in the company, valued at $5,240,846.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Patrick J. O’malley sold 23,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $110.82, for a total transaction of $2,548,860.00. Following the transaction, the chief marketing officer now owns 20,929 shares of the company’s stock, valued at $2,319,351.78. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in Landstar System by 43.8% in the second quarter. Nisa Investment Advisors LLC now owns 18,400 shares of the transportation company’s stock valued at $1,987,000 after purchasing an additional 5,600 shares during the period. Zions Bancorporation N.A. increased its holdings in Landstar System by 6.4% in the second quarter. Zions Bancorporation N.A. now owns 1,866 shares of the transportation company’s stock valued at $202,000 after purchasing an additional 113 shares during the period. Retirement Systems of Alabama increased its holdings in Landstar System by 3.1% in the second quarter. Retirement Systems of Alabama now owns 104,530 shares of the transportation company’s stock valued at $11,288,000 after purchasing an additional 3,150 shares during the period. WINTON GROUP Ltd increased its holdings in Landstar System by 64.9% in the second quarter. WINTON GROUP Ltd now owns 8,051 shares of the transportation company’s stock valued at $869,000 after purchasing an additional 3,168 shares during the period. Finally, Advisory Services Network LLC increased its holdings in Landstar System by 130.3% in the first quarter. Advisory Services Network LLC now owns 281 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 159 shares during the period. Institutional investors own 98.66% of the company’s stock.
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 service providers.
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