Landstar System (NASDAQ:LSTR) Releases Q2 2024 Earnings Guidance

Landstar System (NASDAQ:LSTR) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.350-1.550 for the period, compared to the consensus EPS estimate of 1.790. The company issued revenue guidance of $1.2 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. Landstar System also updated its Q2 guidance to $1.35-1.55 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LSTR shares. Wolfe Research upgraded shares of Landstar System from a peer perform rating to an outperform rating and set a $205.00 price objective for the company in a report on Wednesday, January 10th. Stifel Nicolaus lowered their price objective on shares of Landstar System from $171.00 to $166.00 and set a hold rating for the company in a research report on Friday, February 2nd. Susquehanna reduced their target price on Landstar System from $165.00 to $160.00 and set a neutral rating on the stock in a report on Friday. Benchmark restated a hold rating on shares of Landstar System in a report on Friday. Finally, Wells Fargo & Company lifted their price objective on Landstar System from $165.00 to $180.00 and gave the company an equal weight rating in a report on Friday, February 2nd. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $184.09.

Landstar System Stock Down 0.1 %

NASDAQ:LSTR traded down $0.17 during trading hours on Friday, reaching $177.26. 307,488 shares of the stock were exchanged, compared to its average volume of 276,355. The stock has a market cap of $6.34 billion, a PE ratio of 27.27, a PEG ratio of 4.51 and a beta of 0.83. Landstar System has a twelve month low of $161.13 and a twelve month high of $208.62. The firm has a 50 day moving average of $184.33 and a 200 day moving average of $183.48. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.00 and a quick ratio of 2.00.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.17%. On average, equities analysts expect that Landstar System will post 6.71 earnings per share for the current year.

Landstar System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Wednesday, May 8th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.32 annualized dividend and a yield of 0.74%. Landstar System’s payout ratio is presently 20.31%.

Insider Activity

In other news, VP Michael K. Kneller sold 12,219 shares of Landstar System stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $190.30, for a total value of $2,325,275.70. Following the completion of the transaction, the vice president now owns 61,127 shares of the company’s stock, valued at approximately $11,632,468.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

About Landstar System

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 services.