Landstar System (NASDAQ:LSTR) Releases Q2 2022 Earnings Guidance

Landstar System (NASDAQ:LSTRGet Rating) issued an update on its second quarter 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.220-$3.320 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.780. The company issued revenue guidance of $2 billion-$2.05 billion, compared to the consensus revenue estimate of $1.80 billion.

Shares of LSTR stock traded up $5.48 during trading on Wednesday, hitting $149.32. The company had a trading volume of 407,013 shares, compared to its average volume of 363,429. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market capitalization of $5.54 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.12 and a beta of 1.04. The stock’s 50-day moving average price is $152.04 and its 200 day moving average price is $163.44. Landstar System has a one year low of $139.12 and a one year high of $188.63.

Landstar System (NASDAQ:LSTRGet Rating) last announced its quarterly earnings results on Wednesday, January 26th. The transportation company reported $2.99 EPS for the quarter, beating the Zacks’ consensus estimate of $2.85 by $0.14. Landstar System had a return on equity of 45.49% and a net margin of 5.84%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the firm posted $2.01 earnings per share. The business’s revenue for the quarter was up 50.0% on a year-over-year basis. On average, research analysts anticipate that Landstar System will post 10.74 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 11th. Stockholders of record on Monday, February 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Friday, February 11th. Landstar System’s payout ratio is 10.02%.

LSTR has been the topic of a number of recent analyst reports. Wolfe Research raised Landstar System from an underperform rating to a peer perform rating in a research note on Tuesday, April 5th. They noted that the move was a valuation call. The Goldman Sachs Group dropped their price target on Landstar System from $167.00 to $155.00 in a research note on Thursday, January 27th. Morgan Stanley dropped their price target on Landstar System from $128.00 to $120.00 and set an underweight rating on the stock in a research note on Monday, January 31st. Wells Fargo & Company dropped their price target on Landstar System from $165.00 to $152.00 and set an equal weight rating on the stock in a research note on Thursday, April 7th. Finally, Zacks Investment Research lowered Landstar System from a buy rating to a hold rating and set a $187.00 price target on the stock. in a research note on Wednesday, December 29th. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $165.77.

In other news, Director Dr. Homaira Akbari bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 24th. The shares were acquired at an average price of $151.30 per share, with a total value of $302,600.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in LSTR. Goldman Sachs Group Inc. grew its stake in Landstar System by 213.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 429,511 shares of the transportation company’s stock worth $76,891,000 after buying an additional 292,661 shares in the last quarter. Morgan Stanley grew its stake in Landstar System by 35.8% in the 2nd quarter. Morgan Stanley now owns 153,214 shares of the transportation company’s stock worth $24,211,000 after buying an additional 40,365 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Landstar System by 8.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 193,805 shares of the transportation company’s stock worth $34,695,000 after buying an additional 14,802 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Landstar System by 1.5% in the 4th quarter. Parametric Portfolio Associates LLC now owns 232,843 shares of the transportation company’s stock worth $41,684,000 after buying an additional 3,431 shares in the last quarter. Finally, Synovus Financial Corp purchased a new stake in shares of Landstar System in the 4th quarter valued at $463,000. 96.43% of the stock is owned by institutional investors and hedge funds.

Landstar System Company Profile (Get Rating)

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.

Further Reading

Earnings History and Estimates for Landstar System (NASDAQ:LSTR)

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