$1.01 Billion in Sales Expected for Landstar System, Inc. (LSTR) This Quarter

Equities research analysts expect Landstar System, Inc. (NASDAQ:LSTR) to post sales of $1.01 billion for the current quarter, Zacks reports. Six analysts have made estimates for Landstar System’s earnings, with the highest sales estimate coming in at $1.03 billion and the lowest estimate coming in at $977.00 million. Landstar System posted sales of $892.83 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.1%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, January 31st.

On average, analysts expect that Landstar System will report full-year sales of $1.01 billion for the current year, with estimates ranging from $3.57 billion to $3.62 billion. For the next financial year, analysts expect that the company will post sales of $3.89 billion per share, with estimates ranging from $3.81 billion to $4.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Landstar System.

Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.05. The firm had revenue of $943.40 million during 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 was up 19.7% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share.

A number of research analysts recently issued reports on LSTR shares. KeyCorp reiterated a “buy” rating and issued a $110.00 target price on shares of Landstar System in a report on Tuesday, October 3rd. Morgan Stanley lifted their target price on Landstar System from $68.00 to $73.00 and gave the company an “underweight” rating in a report on Thursday, October 5th. Robert W. Baird reiterated a “hold” rating and issued a $102.00 target price on shares of Landstar System in a report on Friday, October 6th. Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a report on Tuesday, October 10th. Finally, Buckingham Research started coverage on Landstar System in a report on Friday, October 20th. They issued a “neutral” rating and a $103.00 target price for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $101.33.

In other news, Director Dr. Homaira Akbari sold 1,000 shares of Landstar System stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $98.30, for a total transaction of $98,300.00. Following the sale, the director now owns 6,656 shares in the company, valued at $654,284.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph J. Beacom sold 9,805 shares of Landstar System stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $98.32, for a total value of $964,027.60. Following the sale, the chief operating officer now owns 55,649 shares in the company, valued at approximately $5,471,409.68. The disclosure for this sale can be found here. Insiders have sold a total of 40,805 shares of company stock valued at $4,028,128 over the last ninety days. 1.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new stake in shares of Landstar System during the fourth quarter worth about $322,000. Fox Run Management L.L.C. increased its position in shares of Landstar System by 36.5% during the fourth quarter. Fox Run Management L.L.C. now owns 12,148 shares of the transportation company’s stock worth $1,265,000 after purchasing an additional 3,248 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Landstar System by 941.6% during the fourth quarter. Acadian Asset Management LLC now owns 22,102 shares of the transportation company’s stock worth $2,301,000 after purchasing an additional 19,980 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Landstar System by 6.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 295,684 shares of the transportation company’s stock worth $30,781,000 after purchasing an additional 17,340 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Landstar System by 71.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 21,650 shares of the transportation company’s stock worth $2,254,000 after purchasing an additional 9,000 shares in the last quarter. Institutional investors and hedge funds own 97.98% of the company’s stock.

Landstar System (NASDAQ LSTR) opened at $110.60 on Monday. The stock has a market capitalization of $4,641.42, a price-to-earnings ratio of 30.64, a P/E/G ratio of 1.82 and a beta of 0.81. Landstar System has a fifty-two week low of $80.00 and a fifty-two week high of $110.65. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.12.

The firm also recently declared a special dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be issued a dividend of $1.50 per share. This represents a yield of 0.39%. This is an increase from Landstar System’s previous special dividend of $1.00. The ex-dividend date is Thursday, January 11th. Landstar System’s payout ratio is 11.08%.

Landstar System announced that its Board of Directors has initiated a share buyback program on Wednesday, December 13th that allows the company to buyback 1,960,000 shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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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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