Oppenheimer Brokers Lift Earnings Estimates for Landstar System, Inc. (LSTR)

Landstar System, Inc. (NASDAQ:LSTR) – Oppenheimer increased their Q1 2018 earnings estimates for Landstar System in a report issued on Wednesday. Oppenheimer analyst S. Schneeberger now forecasts that the transportation company will post earnings of $1.24 per share for the quarter, up from their previous estimate of $0.92. Oppenheimer also issued estimates for Landstar System’s Q2 2018 earnings at $1.32 EPS, Q3 2018 earnings at $1.34 EPS, Q4 2018 earnings at $1.41 EPS, FY2018 earnings at $5.30 EPS and FY2019 earnings at $5.80 EPS.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. Landstar System had a net margin of 4.86% and a return on equity of 25.30%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Landstar System from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 3rd. Zacks Investment Research cut shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Cowen reaffirmed a “market perform” rating and set a $115.00 target price (up previously from $97.00) on shares of Landstar System in a research note on Thursday, February 1st. Buckingham Research began coverage on shares of Landstar System in a research note on Friday, October 20th. They set a “neutral” rating and a $103.00 target price on the stock. Finally, Cleveland Research raised shares of Landstar System from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $105.75.

Shares of Landstar System (LSTR) opened at $105.35 on Monday. Landstar System has a one year low of $80.00 and a one year high of $118.60. The company has a current ratio of 1.75, a quick ratio of 1.96 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4,420.00, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 1.60 and a beta of 0.81.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Southport Management L.L.C. purchased a new position in shares of Landstar System during the 3rd quarter worth $498,000. Legal & General Group Plc raised its holdings in shares of Landstar System by 11.7% during the 3rd quarter. Legal & General Group Plc now owns 52,200 shares of the transportation company’s stock worth $5,202,000 after acquiring an additional 5,468 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of Landstar System by 109.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,328 shares of the transportation company’s stock worth $370,000 after acquiring an additional 2,259 shares during the period. Stifel Financial Corp raised its holdings in shares of Landstar System by 3.3% during the 3rd quarter. Stifel Financial Corp now owns 56,992 shares of the transportation company’s stock worth $5,676,000 after acquiring an additional 1,833 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Landstar System by 71.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 21,650 shares of the transportation company’s stock worth $2,254,000 after acquiring an additional 9,000 shares during the period. Institutional investors and hedge funds own 98.06% of the company’s stock.

In other news, Director Dr. Homaira Akbari sold 1,000 shares of Landstar System stock in a transaction on Friday, November 24th. The stock was sold at an average price of $98.30, for a total transaction of $98,300.00. Following the transaction, the director now owns 6,656 shares in the company, valued at approximately $654,284.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

Landstar System declared that its board has approved a stock repurchase program on Wednesday, December 13th that authorizes the company to buyback 1,960,000 outstanding shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Monday, February 19th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Thursday, February 15th. This is a positive change from Landstar System’s previous quarterly dividend of $0.10. Landstar System’s payout ratio is currently 9.50%.

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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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