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

Landstar System (NASDAQ:LSTR) issued an update on its second quarter 2024 earnings guidance on Thursday morning. 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.

Landstar System Stock Performance

Shares of LSTR traded down $0.17 during trading hours on Friday, reaching $177.26. 307,488 shares of the company’s stock traded hands, compared to its average volume of 276,355. Landstar System has a twelve month low of $161.13 and a twelve month high of $208.62. The business’s fifty day simple moving average is $184.33 and its two-hundred day simple moving average is $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. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 27.27, a P/E/G ratio of 4.51 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. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.17%. Analysts predict that Landstar System will post 6.71 earnings per share for the current year.

Landstar System Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Transactions at Landstar System

In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 61,127 shares in the company, valued at approximately $11,632,468.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by 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.