Landstar System (NASDAQ:LSTR) Issues Q2 Earnings Guidance

Landstar System (NASDAQ:LSTR – Get Rating) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $1.75-1.85 for the period, compared to the consensus EPS estimate of $1.97. The company issued revenue guidance of $1.325-1.375 billion, compared to the consensus revenue estimate of $1.42 billion.

Landstar System Stock Up 1.9 %

Shares of NASDAQ LSTR opened at $175.55 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.67 and a beta of 0.90. The stock has a 50 day moving average price of $176.79 and a 200 day moving average price of $173.99. Landstar System has a 52-week low of $137.15 and a 52-week high of $188.46.

Landstar System (NASDAQ:LSTR – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The transportation company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.10. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. Landstar System had a net margin of 5.57% and a return on equity of 43.26%. Landstar System’s revenue for the quarter was down 27.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.34 earnings per share. Sell-side analysts expect that Landstar System will post 8.6 earnings per share for the current year.

Landstar System Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Thursday, May 4th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Wednesday, May 3rd. Landstar System’s payout ratio is presently 11.34%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LSTR shares. Stephens upped their price target on Landstar System from $180.00 to $195.00 and gave the stock an equal weight rating in a research report on Friday, February 3rd. Robert W. Baird upped their price target on Landstar System from $160.00 to $180.00 in a research report on Friday, February 3rd. Raymond James raised Landstar System from a market perform rating to an outperform rating and set a $200.00 price target on the stock in a research report on Monday, February 6th. Stifel Nicolaus reduced their price target on Landstar System from $184.00 to $178.00 in a research report on Tuesday, May 2nd. Finally, StockNews.com initiated coverage on Landstar System in a research report on Thursday, May 18th. They issued a hold rating on the stock. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $166.83.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC boosted its holdings in Landstar System by 4.7% during the first quarter. HighTower Advisors LLC now owns 7,370 shares of the transportation company’s stock worth $1,105,000 after buying an additional 334 shares in the last quarter. Private Advisor Group LLC raised its stake in Landstar System by 2.6% during the first quarter. Private Advisor Group LLC now owns 3,707 shares of the transportation company’s stock worth $559,000 after purchasing an additional 95 shares during the period. Bank of Montreal Can raised its stake in Landstar System by 5.7% during the first quarter. Bank of Montreal Can now owns 9,033 shares of the transportation company’s stock worth $1,408,000 after purchasing an additional 485 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Landstar System by 87.1% in the 1st quarter. Panagora Asset Management Inc. now owns 2,245 shares of the transportation company’s stock valued at $339,000 after acquiring an additional 1,045 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Landstar System by 9.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,814 shares of the transportation company’s stock valued at $2,084,000 after acquiring an additional 1,179 shares during the period. 98.90% of the stock is currently owned by institutional investors and hedge funds.

About Landstar System

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Landstar System, Inc engages in the provision of transportation management solutions. It operates through the following segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers transportation services including truckload and less-than-truckload transportation, rail intermodal, air and ocean cargo, project cargo, and customs brokerage.