Landstar System, Inc. (NASDAQ:LSTR) Expected to Announce Quarterly Sales of $848.66 Million
Wall Street analysts forecast that Landstar System, Inc. (NASDAQ:LSTR) will report sales of $848.66 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Landstar System’s earnings. The lowest sales estimate is $826.44 million and the highest is $877.81 million. Landstar System posted sales of $775.22 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.5%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, July 26th.
According to Zacks, analysts expect that Landstar System will report full-year sales of $848.66 million for the current fiscal year, with estimates ranging from $3.37 billion to $3.57 billion. For the next financial year, analysts expect that the company will report sales of $3.67 billion per share, with estimates ranging from $3.53 billion to $4.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Landstar System.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, April 26th. The transportation company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The firm had revenue of $780.90 million during the quarter, compared to analyst estimates of $757.56 million. Landstar System had a net margin of 4.34% and a return on equity of 26.51%. Landstar System’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS.
LSTR has been the subject of a number of research reports. Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Thursday, July 6th. BidaskClub cut Landstar System from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Stifel Nicolaus boosted their price objective on Landstar System from $81.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Finally, Cowen and Company boosted their price objective on Landstar System from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Landstar System has a consensus rating of “Hold” and a consensus target price of $85.50.
Landstar System (NASDAQ LSTR) traded up 0.17% during trading on Friday, reaching $87.45. 175,725 shares of the company’s stock were exchanged. Landstar System has a 52 week low of $65.05 and a 52 week high of $90.80. The stock has a market capitalization of $3.67 billion, a PE ratio of 26.25 and a beta of 0.76. The stock has a 50-day moving average of $86.28 and a 200-day moving average of $85.34.
Several large investors have recently added to or reduced their stakes in the company. USA Financial Portformulas Corp boosted its stake in Landstar System by 20.2% in the fourth quarter. USA Financial Portformulas Corp now owns 18,576 shares of the transportation company’s stock valued at $1,585,000 after buying an additional 3,117 shares during the period. Oxford Asset Management bought a new stake in Landstar System during the first quarter valued at approximately $374,000. Parametrica Management Ltd bought a new stake in Landstar System during the first quarter valued at approximately $212,000. Retirement Systems of Alabama boosted its stake in Landstar System by 1.1% in the first quarter. Retirement Systems of Alabama now owns 106,258 shares of the transportation company’s stock valued at $9,101,000 after buying an additional 1,130 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new stake in Landstar System during the first quarter valued at approximately $1,204,000. Institutional investors and hedge funds own 97.46% of the company’s stock.
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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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