Brokers Set Expectations for Landstar System, Inc.’s FY2017 Earnings (LSTR)
Landstar System, Inc. (NASDAQ:LSTR) – Investment analysts at KeyCorp lifted their FY2017 EPS estimates for shares of Landstar System in a report issued on Thursday. KeyCorp analyst T. Fowler now anticipates that the transportation company will post earnings of $3.69 per share for the year, up from their previous estimate of $3.65. KeyCorp has a “Buy” rating and a $110.00 price target on the stock. KeyCorp also issued estimates for Landstar System’s Q4 2017 earnings at $1.02 EPS and FY2018 earnings at $4.20 EPS.
A number of other research firms also recently issued reports on LSTR. Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research note on Thursday, July 6th. Cowen and Company restated a “hold” rating and set a $86.00 price target on shares of Landstar System in a research note on Monday, August 28th. Wells Fargo & Company raised their price target on Landstar System from $83.00 to $98.00 and gave the stock a “market perform” rating in a research note on Friday. Morgan Stanley raised their price target on Landstar System from $68.00 to $73.00 and gave the stock an “underweight” rating in a research note on Thursday, October 5th. Finally, Deutsche Bank AG downgraded Landstar System from a “buy” rating to a “hold” rating and dropped their price target for the stock from $97.00 to $87.00 in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $95.50.
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Shares of Landstar System (NASDAQ:LSTR) opened at 101.90 on Monday. The company has a 50-day moving average price of $98.12 and a 200-day moving average price of $88.60. Landstar System has a 12 month low of $69.95 and a 12 month high of $102.55. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 29.43 and a beta of 0.76.
Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.05. The firm had revenue of $943.40 million for the quarter, compared to analyst estimates of $895.31 million. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. Landstar System’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share.
Several hedge funds have recently made changes to their positions in LSTR. UBS Asset Management Americas Inc. grew its stake in shares of Landstar System by 70.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 39,105 shares of the transportation company’s stock valued at $3,349,000 after purchasing an additional 16,136 shares during the last quarter. Credit Agricole S A purchased a new position in shares of Landstar System in the 1st quarter valued at approximately $398,000. OppenheimerFunds Inc. grew its stake in shares of Landstar System by 23.0% in the 1st quarter. OppenheimerFunds Inc. now owns 9,249 shares of the transportation company’s stock valued at $792,000 after purchasing an additional 1,728 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Landstar System by 2.5% in the 1st quarter. Teachers Advisors LLC now owns 40,535 shares of the transportation company’s stock valued at $3,472,000 after purchasing an additional 983 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Landstar System by 59.6% in the 1st quarter. Legal & General Group Plc now owns 40,622 shares of the transportation company’s stock valued at $3,479,000 after purchasing an additional 15,166 shares during the last quarter. Institutional investors own 97.53% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Tuesday, November 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.39%. Landstar System’s dividend payout ratio (DPR) is currently 11.08%.
Landstar System Company Profile
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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