Landstar System, Inc. (LSTR) Expected to Post Quarterly Sales of $892.72 Million
Brokerages forecast that Landstar System, Inc. (NASDAQ:LSTR) will report $892.72 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Landstar System’s earnings, with the highest sales estimate coming in at $961.00 million and the lowest estimate coming in at $870.00 million. Landstar System reported sales of $787.94 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.3%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, October 25th.
According to Zacks, analysts expect that Landstar System will report full year sales of $892.72 million for the current fiscal year, with estimates ranging from $3.44 billion to $3.66 billion. For the next fiscal year, analysts anticipate that the company will post sales of $3.73 billion per share, with estimates ranging from $3.60 billion to $4.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Landstar System.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The business had revenue of $870.34 million for the quarter, compared to the consensus estimate of $859.30 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. Landstar System’s revenue for the quarter was up 12.3% on a year-over-year basis.
Several brokerages recently issued reports on LSTR. KeyCorp restated a “buy” rating and issued a $110.00 target price on shares of Landstar System in a report on Tuesday. Stifel Nicolaus restated a “buy” rating and issued a $95.00 target price on shares of Landstar System in a report on Tuesday, September 12th. BidaskClub cut shares of Landstar System from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Stephens upgraded shares of Landstar System from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $88.00 to $103.00 in a report on Wednesday, August 30th. Finally, Zacks Investment Research upgraded shares of Landstar System from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $90.11.
A number of hedge funds and other institutional investors have recently made changes to their positions in LSTR. US Bancorp DE increased its holdings in Landstar System by 3.2% in the 1st quarter. US Bancorp DE now owns 3,963 shares of the transportation company’s stock valued at $340,000 after acquiring an additional 122 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Landstar System by 36.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,600 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 427 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in 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 acquiring an additional 16,136 shares during the last quarter. Trexquant Investment LP bought a new stake in Landstar System in the 1st quarter valued at $251,000. Finally, Oxford Asset Management bought a new stake in Landstar System in the 1st quarter valued at $374,000. Institutional investors own 96.99% of the company’s stock.
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Landstar System (NASDAQ LSTR) opened at 100.30 on Thursday. The stock has a market cap of $4.21 billion, a P/E ratio of 28.97 and a beta of 0.76. The company has a 50-day moving average price of $92.50 and a 200 day moving average price of $86.88. Landstar System has a 1-year low of $65.05 and a 1-year high of $101.75.
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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