Landstar System, Inc. (NASDAQ:LSTR) Forecasted to Earn FY2024 Earnings of $9.50 Per Share

Landstar System, Inc. (NASDAQ:LSTRGet Rating) – Equities researchers at KeyCorp issued their FY2024 earnings per share estimates for Landstar System in a research note issued to investors on Tuesday, January 10th. KeyCorp analyst T. Fowler anticipates that the transportation company will post earnings per share of $9.50 for the year. The consensus estimate for Landstar System’s current full-year earnings is $11.77 per share.

Landstar System (NASDAQ:LSTRGet Rating) last posted its earnings results on Wednesday, October 19th. The transportation company reported $2.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.76. Landstar System had a return on equity of 52.31% and a net margin of 5.85%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the firm earned $2.58 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year.

Several other research firms have also issued reports on LSTR. Cowen cut their target price on Landstar System to $155.00 in a research note on Thursday, October 27th. Morgan Stanley upgraded Landstar System from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $120.00 to $140.00 in a research note on Monday. Susquehanna raised their price target on Landstar System from $147.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price target on Landstar System from $189.00 to $182.00 in a report on Monday, November 28th. Finally, Jefferies Financial Group began coverage on Landstar System in a report on Monday, October 24th. They issued a “hold” rating and a $145.00 price target for the company. Nine analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $155.30.

Landstar System Price Performance

LSTR opened at $171.07 on Thursday. The business’s 50-day moving average is $167.74 and its two-hundred day moving average is $155.35. Landstar System has a 1 year low of $137.15 and a 1 year high of $178.14. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market capitalization of $6.15 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 1.56 and a beta of 0.91.

Landstar System Dividend Announcement

The company also recently announced a None dividend, which will be paid on Friday, January 20th. Investors of record on Friday, January 6th will be issued a dividend of $2.00 per share. The ex-dividend date is Thursday, January 5th. Landstar System’s dividend payout ratio (DPR) is 9.88%.

Insider Buying and Selling

In related news, CEO James B. Gattoni sold 20,000 shares of Landstar System stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $155.86, for a total transaction of $3,117,200.00. Following the completion of the sale, the chief executive officer now owns 74,792 shares of the company’s stock, valued at $11,657,081.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bridgewater Associates LP purchased a new stake in shares of Landstar System in the second quarter valued at approximately $739,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Landstar System by 17.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 26,495 shares of the transportation company’s stock valued at $3,822,000 after purchasing an additional 4,013 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in shares of Landstar System by 3.2% in the 2nd quarter. Aptus Capital Advisors LLC now owns 24,472 shares of the transportation company’s stock valued at $3,558,000 after purchasing an additional 753 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Landstar System by 229.1% in the 3rd quarter. Raymond James & Associates now owns 148,591 shares of the transportation company’s stock valued at $21,452,000 after purchasing an additional 103,440 shares during the last quarter. Finally, Morris Capital Advisors LLC lifted its stake in shares of Landstar System by 1.8% in the 2nd quarter. Morris Capital Advisors LLC now owns 17,957 shares of the transportation company’s stock valued at $2,611,000 after purchasing an additional 310 shares during the last quarter. 98.90% of the stock is owned by institutional investors and hedge funds.

Landstar System Company Profile

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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.

See Also

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

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