Landstar System, Inc. (NASDAQ:LSTR) – Equities researchers at Oppenheimer Holdings increased their FY2017 earnings estimates for Landstar System in a research report issued to clients and investors on Monday. Oppenheimer Holdings analyst S. Schneeberger now forecasts that the transportation company will post earnings of $3.67 per share for the year, up from their prior forecast of $3.53. Oppenheimer Holdings also issued estimates for Landstar System’s Q4 2017 earnings at $1.00 EPS, Q1 2018 earnings at $0.92 EPS, Q2 2018 earnings at $1.05 EPS, Q3 2018 earnings at $1.07 EPS, Q4 2018 earnings at $1.14 EPS, FY2018 earnings at $4.17 EPS and FY2019 earnings at $4.60 EPS.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Thursday, July 6th. Cowen and Company restated a “hold” rating and issued a $86.00 price target on shares of Landstar System in a report on Monday, August 28th. Deutsche Bank AG cut shares of Landstar System from a “buy” rating to a “hold” rating and cut their price target for the stock from $97.00 to $87.00 in a report on Monday, July 31st. Stephens upgraded shares of Landstar System from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $88.00 to $103.00 in a report on Wednesday, August 30th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $95.00 price target on shares of Landstar System in a report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $96.67.
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, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.05. The company had revenue of $943.40 million during the quarter, compared to analyst estimates of $895.31 million. Landstar System had a net margin of 4.36% and a return on equity of 25.53%. Landstar System’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Tuesday, November 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Monday, November 13th. Landstar System’s dividend payout ratio (DPR) is presently 11.08%.
In related news, VP Michael K. Kneller sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the sale, the vice president now directly owns 22,153 shares of the company’s stock, valued at $2,193,147. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its position 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 buying an additional 599 shares during the last quarter. IFP Advisors Inc lifted its position 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 last quarter. PNC Financial Services Group Inc. lifted its position 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 last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Landstar System during the second quarter valued at about $202,000. 97.36% of the stock is owned by institutional investors and hedge funds.
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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