$1.05 Billion in Sales Expected for Landstar System, Inc. (LSTR) This Quarter
Brokerages predict that Landstar System, Inc. (NASDAQ:LSTR) will post $1.05 billion in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Landstar System’s earnings. The lowest sales estimate is $1.04 billion and the highest is $1.06 billion. Landstar System also reported sales of $1.05 billion in the same quarter last year. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, April 24th.
According to Zacks, analysts expect that Landstar System will report full-year sales of $4.62 billion for the current financial year, with estimates ranging from $4.49 billion to $4.73 billion. For the next financial year, analysts forecast that the firm will report sales of $4.75 billion, with estimates ranging from $4.38 billion to $4.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Landstar System.
Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, January 30th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.10. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Landstar System had a return on equity of 36.70% and a net margin of 5.53%. Landstar System’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.51 earnings per share.
Shares of Landstar System stock traded up $0.94 on Thursday, reaching $112.05. The company had a trading volume of 220,800 shares, compared to its average volume of 336,396. Landstar System has a 1 year low of $90.23 and a 1 year high of $128.70. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.44 and a beta of 1.20.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 18th were given a $0.165 dividend. The ex-dividend date was Thursday, February 14th. This represents a $0.66 annualized dividend and a yield of 0.59%. Landstar System’s payout ratio is 10.68%.
In related news, CEO James B. Gattoni sold 19,481 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $110.68, for a total value of $2,156,157.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO L Kevin Stout sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $110.99, for a total value of $665,940.00. Following the completion of the transaction, the chief financial officer now owns 47,204 shares of the company’s stock, valued at $5,239,171.96. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Landstar System by 8.9% during the 4th quarter. BlackRock Inc. now owns 5,410,701 shares of the transportation company’s stock worth $517,643,000 after acquiring an additional 444,387 shares in the last quarter. Norges Bank acquired a new position in shares of Landstar System in the 4th quarter valued at approximately $41,862,000. Northern Trust Corp raised its position in shares of Landstar System by 50.7% in the 4th quarter. Northern Trust Corp now owns 609,236 shares of the transportation company’s stock valued at $58,285,000 after buying an additional 205,055 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Landstar System by 12.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,718,723 shares of the transportation company’s stock valued at $164,430,000 after buying an additional 195,176 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Landstar System by 57.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 468,085 shares of the transportation company’s stock valued at $44,782,000 after buying an additional 170,595 shares in the last quarter. Institutional investors own 98.65% of the company’s stock.
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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