Landstar System (NASDAQ:LSTR) Releases Q2 Earnings Guidance

Landstar System (NASDAQ:LSTR) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.35-1.55 for the period, compared to the consensus estimate of $1.58. The company issued revenue guidance of $1.2-1.3 billion, compared to the consensus revenue estimate of $1.26 billion. Landstar System also updated its Q2 2024 guidance to 1.350-1.550 EPS.

Landstar System Stock Up 3.7 %

Shares of NASDAQ LSTR traded up $6.33 during mid-day trading on Thursday, reaching $177.43. 604,499 shares of the company’s stock traded hands, compared to its average volume of 275,550. The stock has a market cap of $6.34 billion, a P/E ratio of 24.14, a PEG ratio of 4.54 and a beta of 0.83. The business has a 50-day simple moving average of $184.66 and a 200 day simple moving average of $183.48. Landstar System has a 1-year low of $161.13 and a 1-year high of $208.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.00 and a quick ratio of 2.00.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. Landstar System had a net margin of 4.99% and a return on equity of 26.73%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. On average, analysts expect that Landstar System will post 6.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LSTR has been the topic of several analyst reports. Wolfe Research upgraded shares of Landstar System from a peer perform rating to an outperform rating and set a $205.00 price target on the stock in a report on Wednesday, January 10th. Susquehanna dropped their target price on shares of Landstar System from $170.00 to $165.00 and set a neutral rating on the stock in a research note on Monday, March 25th. Stifel Nicolaus dropped their target price on shares of Landstar System from $171.00 to $166.00 and set a hold rating on the stock in a research note on Friday, February 2nd. Wells Fargo & Company boosted their target price on shares of Landstar System from $165.00 to $180.00 and gave the company an equal weight rating in a research note on Friday, February 2nd. Finally, UBS Group boosted their target price on shares of Landstar System from $175.00 to $200.00 and gave the company a neutral rating in a research note on Friday, February 2nd. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $184.55.

Insider Buying and Selling at Landstar System

In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $190.30, for a total value of $2,325,275.70. Following the completion of the transaction, the vice president now directly owns 61,127 shares in the company, valued at approximately $11,632,468.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

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, such as third party logistics and less-than-truckload services.