Landstar System, Inc. (LSTR) Expected to Announce Quarterly Sales of $1.22 Billion

Analysts forecast that Landstar System, Inc. (NASDAQ:LSTR) will report sales of $1.22 billion for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Landstar System’s earnings, with estimates ranging from $1.21 billion to $1.23 billion. Landstar System posted sales of $1.05 billion during the same quarter last year, which would indicate a positive year over year growth rate of 16.2%. The firm is scheduled to report its next earnings report on Wednesday, January 30th.

On average, analysts expect that Landstar System will report full year sales of $4.65 billion for the current fiscal year, with estimates ranging from $4.62 billion to $4.66 billion. For the next fiscal year, analysts expect that the firm will report sales of $4.85 billion, with estimates ranging from $4.58 billion to $4.95 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Landstar System.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, October 24th. The transportation company reported $1.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.03. Landstar System had a net margin of 5.61% and a return on equity of 33.82%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion.

LSTR has been the subject of several research reports. Cowen reiterated a “market perform” rating and set a $113.00 price objective (up previously from $108.00) on shares of Landstar System in a research report on Thursday, July 26th. BidaskClub upgraded shares of Landstar System from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 15th. ValuEngine lowered shares of Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, September 22nd. Zacks Investment Research lowered shares of Landstar System from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Finally, Morgan Stanley set a $96.00 price objective on shares of Landstar System and gave the company a “sell” rating in a report on Monday, October 22nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $117.00.

Shares of NASDAQ LSTR traded down $2.69 during midday trading on Friday, reaching $103.59. The stock had a trading volume of 21,327 shares, compared to its average volume of 481,105. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.94 and a quick ratio of 1.94. The stock has a market cap of $4.34 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 1.28 and a beta of 1.11. Landstar System has a 12-month low of $95.15 and a 12-month high of $128.70.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Tuesday, November 13th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, November 9th. Landstar System’s payout ratio is currently 17.60%.

In other news, COO Joseph J. Beacom sold 3,000 shares of Landstar System stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $119.52, for a total value of $358,560.00. Following the transaction, the chief operating officer now owns 33,702 shares of the company’s stock, valued at approximately $4,028,063.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in LSTR. BlackRock Inc. boosted its stake in Landstar System by 18.0% in the 2nd quarter. BlackRock Inc. now owns 5,021,679 shares of the transportation company’s stock worth $548,369,000 after purchasing an additional 764,662 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Landstar System in the 3rd quarter worth approximately $36,294,000. Smith Asset Management Group LP boosted its stake in Landstar System by 134.9% in the 2nd quarter. Smith Asset Management Group LP now owns 459,476 shares of the transportation company’s stock worth $50,195,000 after purchasing an additional 263,884 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in Landstar System in the 3rd quarter worth approximately $28,755,000. Finally, Victory Capital Management Inc. boosted its stake in Landstar System by 9.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,529,354 shares of the transportation company’s stock worth $167,005,000 after purchasing an additional 130,937 shares in the last quarter.

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, including third party logistics and less-than-truckload service providers.

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