Zacks: Brokerages Expect Landstar System, Inc. (LSTR) Will Post Quarterly Sales of $877.72 Million
Analysts expect Landstar System, Inc. (NASDAQ:LSTR) to report sales of $877.72 million for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Landstar System’s earnings, with estimates ranging from $870.00 million to $890.00 million. Landstar System reported sales of $787.94 million in the same quarter last year, which indicates a positive year over year growth rate of 11.4%. The company is expected to report its next earnings report after the market closes on Wednesday, October 25th.
According to Zacks, analysts expect that Landstar System will report full-year sales of $877.72 million for the current year, with estimates ranging from $3.43 billion to $3.50 billion. For the next financial year, analysts expect that the firm will report sales of $3.69 billion per share, with estimates ranging from $3.60 billion to $3.84 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Landstar System.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Landstar System had a net margin of 4.37% and a return on equity of 26.11%. The firm had revenue of $870.34 million during the quarter, compared to analysts’ expectations of $859.30 million. During the same quarter in the previous year, the company posted $0.76 EPS. Landstar System’s revenue was up 12.3% on a year-over-year basis.
A number of analysts have weighed in on LSTR shares. Stifel Nicolaus restated a “buy” rating and issued a $95.00 target price on shares of Landstar System in a research report on Tuesday. Zacks Investment Research upgraded shares of Landstar System from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Thursday, July 6th. BidaskClub upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Cowen and Company restated a “hold” rating and issued a $86.00 target price on shares of Landstar System in a research report on Monday, August 28th. Finally, Deutsche Bank AG lowered shares of Landstar System from a “buy” rating to a “hold” rating and cut their target price for the company from $97.00 to $87.00 in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Landstar System currently has an average rating of “Hold” and an average price target of $87.63.
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Large investors have recently modified their holdings of the company. Glen Harbor Capital Management LLC lifted its holdings in shares of Landstar System by 11.9% during the first quarter. Glen Harbor Capital Management LLC now owns 1,200 shares of the transportation company’s stock worth $103,000 after purchasing an additional 128 shares during the period. Advisor Group Inc. lifted its holdings 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 worth $130,000 after purchasing an additional 599 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Landstar System by 36.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,600 shares of the transportation company’s stock worth $137,000 after purchasing an additional 427 shares during the period. IFP Advisors Inc lifted its holdings 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 worth $141,000 after purchasing an additional 47 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings 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 worth $171,000 after purchasing an additional 373 shares during the period. Institutional investors own 97.00% of the company’s stock.
Landstar System (LSTR) opened at 95.20 on Friday. Landstar System has a 52-week low of $65.05 and a 52-week high of $96.15. The company has a 50-day moving average of $87.00 and a 200 day moving average of $85.76. The company has a market cap of $3.99 billion, a PE ratio of 27.50 and a beta of 0.74.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Thursday, August 10th. This is a positive change from Landstar System’s previous quarterly dividend of $0.09. Landstar System’s payout ratio is 11.56%.
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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