Landstar System (NASDAQ:LSTR) Announces Quarterly Earnings Results

Landstar System (NASDAQ:LSTR) issued its quarterly earnings results on Tuesday. The transportation company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.05), Briefing.com reports. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the company posted $1.71 earnings per share. Landstar System’s revenue was down 5.8% compared to the same quarter last year. Landstar System updated its Q4 guidance to $1.25-1.45 EPS.

Landstar System Trading Down 1.9 %

NASDAQ LSTR traded down $3.49 during trading hours on Wednesday, hitting $177.08. The company’s stock had a trading volume of 146,240 shares, compared to its average volume of 258,528. The stock has a fifty day moving average of $183.61 and a 200 day moving average of $182.44. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. Landstar System has a twelve month low of $163.37 and a twelve month high of $201.40. The firm has a market capitalization of $6.33 billion, a P/E ratio of 27.30 and a beta of 0.80.

Wall Street Analyst Weigh In

Several analysts recently commented on LSTR shares. Evercore ISI cut their target price on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. UBS Group lifted their price target on Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Morgan Stanley cut their price objective on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $174.18.

About Landstar System

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.