Landstar System (NASDAQ:LSTR) Updates Q2 Earnings Guidance

Landstar System (NASDAQ:LSTR) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.35-1.55 for the period, compared to the consensus earnings per share estimate of $1.58. The company issued revenue guidance of $1.2-1.3 billion, compared to the consensus revenue estimate of $1.26 billion. Landstar System also updated its Q2 2024 guidance to 1.350-1.550 EPS.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Susquehanna lowered their target price on Landstar System from $165.00 to $160.00 and set a neutral rating on the stock in a research report on Friday. Wells Fargo & Company boosted 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. Stifel Nicolaus dropped their price target on shares of Landstar System from $171.00 to $166.00 and set a hold rating on the stock in a research report on Friday, February 2nd. Wolfe Research upgraded shares of Landstar System from a peer perform rating to an outperform rating and set a $205.00 price objective for the company in a report on Wednesday, January 10th. Finally, Benchmark reaffirmed a hold rating on shares of Landstar System in a report on Friday. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Landstar System has an average rating of Hold and a consensus target price of $184.09.

Landstar System Stock Performance

NASDAQ:LSTR traded down $0.17 on Friday, hitting $177.26. The stock had a trading volume of 307,488 shares, compared to its average volume of 276,355. Landstar System has a 52-week low of $161.13 and a 52-week high of $208.62. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 4.51 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. The business’s 50-day simple moving average is $184.66 and its two-hundred day simple moving average is $183.48.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Landstar System had a return on equity of 23.17% and a net margin of 4.63%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. As a group, research analysts predict that Landstar System will post 6.71 earnings per share for the current year.

Landstar System Dividend Announcement

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

Insider Activity at Landstar System

In related news, VP Michael K. Kneller sold 12,219 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the sale, 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 legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is 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.