Landstar System (NASDAQ:LSTR) Issues 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 earnings per share guidance of $3.220-$3.320 for the period, compared to the Thomson Reuters consensus earnings per share 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 NASDAQ LSTR opened at $152.94 on Wednesday. The firm has a 50-day moving average of $151.85 and a 200 day moving average of $163.30. Landstar System has a 1 year low of $139.12 and a 1 year high of $188.63. The stock has a market cap of $5.68 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.20 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.62 and a quick ratio of 1.51.

Landstar System (NASDAQ:LSTRGet Rating) last announced its quarterly earnings data on Wednesday, April 20th. The transportation company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.60. Landstar System had a net margin of 5.94% and a return on equity of 49.78%. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the business earned $2.01 EPS. The firm’s revenue for the quarter was up 53.1% on a year-over-year basis. Research analysts expect that Landstar System will post 10.83 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Thursday, May 5th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.65%. Landstar System’s dividend payout ratio (DPR) is presently 8.84%.

A number of analysts have commented on LSTR shares. The Goldman Sachs Group reduced their target price on shares of Landstar System from $167.00 to $155.00 in a report on Thursday, January 27th. Wells Fargo & Company lifted their target price on Landstar System from $152.00 to $165.00 in a research report on Friday, April 22nd. Wolfe Research upgraded Landstar System from an underperform rating to a peer perform rating in a research report on Tuesday, April 5th. They noted that the move was a valuation call. Morgan Stanley lowered their price objective on Landstar System from $128.00 to $120.00 and set an underweight rating on the stock in a research report on Monday, January 31st. Finally, StockNews.com raised shares of Landstar System from a hold rating to a buy rating in a report on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $167.75.

In related news, Director Dr. Homaira Akbari bought 2,000 shares of the stock in a transaction dated Thursday, February 24th. The shares were purchased at an average price of $151.30 per share, with a total value of $302,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of Landstar System by 213.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 429,511 shares of the transportation company’s stock worth $76,891,000 after purchasing an additional 292,661 shares during the last quarter. Morgan Stanley boosted its position in Landstar System by 35.8% in the 2nd quarter. Morgan Stanley now owns 153,214 shares of the transportation company’s stock valued at $24,211,000 after buying an additional 40,365 shares during the period. 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 acquiring an additional 14,802 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Landstar System by 1.5% during the fourth quarter. Parametric Portfolio Associates LLC now owns 232,843 shares of the transportation company’s stock worth $41,684,000 after acquiring an additional 3,431 shares during the period. Finally, Synovus Financial Corp bought a new stake in shares of Landstar System during the fourth quarter valued at approximately $463,000. 96.43% of the stock is owned by hedge funds and other institutional investors.

About Landstar System (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.

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

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