Landstar System, Inc. (NASDAQ:LSTR) Expected to Announce Quarterly Sales of $934.30 Million

Wall Street analysts forecast that Landstar System, Inc. (NASDAQ:LSTR) will post sales of $934.30 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Landstar System’s earnings, with the lowest sales estimate coming in at $920.00 million and the highest estimate coming in at $942.30 million. Landstar System posted sales of $1.03 billion during the same quarter last year, which suggests a negative year over year growth rate of 9.3%. The business is expected to announce its next earnings report on Wednesday, April 22nd.

According to Zacks, analysts expect that Landstar System will report full year sales of $4.04 billion for the current financial year, with estimates ranging from $3.97 billion to $4.11 billion. For the next financial year, analysts anticipate that the business will report sales of $4.25 billion, with estimates ranging from $4.14 billion to $4.40 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Landstar System.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.15). The business had revenue of $994.90 million during the quarter, compared to the consensus estimate of $993.93 million. Landstar System had a return on equity of 31.05% and a net margin of 5.58%. The business’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 earnings per share.

LSTR has been the subject of several recent research reports. Goldman Sachs Group initiated coverage on shares of Landstar System in a research note on Thursday, December 5th. They issued a “sell” rating and a $105.00 price target for the company. Susquehanna Bancshares raised shares of Landstar System from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $117.00 to $140.00 in a research note on Wednesday, January 15th. Cowen reissued a “hold” rating and issued a $118.00 price target on shares of Landstar System in a research note on Wednesday, December 11th. Morgan Stanley lowered their price objective on shares of Landstar System from $85.00 to $80.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. Finally, BidaskClub downgraded shares of Landstar System from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $112.74.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Man Group plc increased its position in shares of Landstar System by 8.5% during the third quarter. Man Group plc now owns 309,008 shares of the transportation company’s stock valued at $34,788,000 after buying an additional 24,309 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of Landstar System by 9.3% during the third quarter. Parametric Portfolio Associates LLC now owns 113,707 shares of the transportation company’s stock valued at $12,801,000 after buying an additional 9,713 shares during the period. Voya Investment Management LLC increased its position in shares of Landstar System by 2.1% during the third quarter. Voya Investment Management LLC now owns 22,887 shares of the transportation company’s stock valued at $2,576,000 after buying an additional 463 shares during the period. Comerica Bank increased its position in shares of Landstar System by 4.6% during the third quarter. Comerica Bank now owns 24,585 shares of the transportation company’s stock valued at $2,827,000 after buying an additional 1,070 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Landstar System during the third quarter valued at about $417,000.

Landstar System stock traded down $2.45 during mid-day trading on Monday, hitting $108.44. The company’s stock had a trading volume of 391,400 shares, compared to its average volume of 285,153. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.80 and a quick ratio of 2.01. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.69 and a beta of 1.20. The business has a 50 day moving average price of $112.86 and a 200-day moving average price of $112.31. Landstar System has a 12 month low of $94.97 and a 12 month high of $120.23.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, February 17th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, February 13th. Landstar System’s dividend payout ratio is currently 12.94%.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments, Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload service providers.

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