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

Landstar System (NASDAQ:LSTR) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.350-1.550 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LSTR. Wells Fargo & Company increased their price target on shares of Landstar System from $165.00 to $180.00 and gave the stock an equal weight rating in a research report on Friday, February 2nd. Susquehanna cut their target price on shares of Landstar System from $165.00 to $160.00 and set a neutral rating for the company in a research note on Friday. UBS Group raised their target price on shares of Landstar System from $175.00 to $200.00 and gave the company a neutral rating in a research note on Friday, February 2nd. Stifel Nicolaus cut their target price on shares of Landstar System from $171.00 to $166.00 and set a hold rating for the company in a research note on Friday, February 2nd. Finally, Wolfe Research raised shares of Landstar System from a peer perform rating to an outperform rating and set a $205.00 target price for the company in a research note on Wednesday, January 10th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $184.09.

Landstar System Price Performance

Shares of Landstar System stock traded down $0.17 during trading hours on Friday, reaching $177.26. The company’s stock had a trading volume of 313,188 shares, compared to its average volume of 270,637. Landstar System has a one year low of $161.13 and a one year high of $208.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.00. The firm has a 50 day moving average price of $184.33 and a 200-day moving average price of $183.48. The stock has a market cap of $6.34 billion, a P/E ratio of 27.27, a P/E/G ratio of 4.68 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. On average, analysts predict that Landstar System will post 6.71 EPS for the current year.

Landstar System Announces Dividend

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

Insider Buying and Selling

In related 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 transaction of $2,325,275.70. Following the completion of the transaction, the vice president now directly owns 61,127 shares of the company’s stock, valued at approximately $11,632,468.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

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 services.