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

Landstar System (NASDAQ:LSTR) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.350-1.550 for the period, compared to the consensus 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.

Landstar System Stock Performance

LSTR stock traded up $6.53 during midday trading on Thursday, hitting $177.63. 166,452 shares of the company traded hands, compared to its average volume of 270,268. The business has a 50 day simple moving average of $185.05 and a 200-day simple moving average of $183.53. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 4.54 and a beta of 0.83. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.04. Landstar System has a twelve month low of $161.13 and a twelve month high of $208.62.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. Landstar System had a return on equity of 26.73% and a net margin of 4.99%. As a group, equities research analysts predict that Landstar System will post 6.71 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on LSTR shares. Stifel Nicolaus lowered their target price on shares of Landstar System from $171.00 to $166.00 and set a hold rating for the company in a report on Friday, February 2nd. Susquehanna reduced their price target on shares of Landstar System from $170.00 to $165.00 and set a neutral rating for the company in a research report on Monday, March 25th. Wolfe Research upgraded 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 report on Wednesday, January 10th. Wells Fargo & Company increased their target price on shares of Landstar System from $165.00 to $180.00 and gave the stock an equal weight rating in a research report on Friday, February 2nd. Finally, UBS Group raised their price objective on shares of Landstar System from $175.00 to $200.00 and gave the company a neutral rating in a research report on Friday, February 2nd. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $184.55.

Insider Transactions at Landstar System

In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 61,127 shares in the company, valued at approximately $11,632,468.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Landstar System Company Profile

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.