Landstar System Inc. (NASDAQ:LSTR) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.85-0.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.82. The company issued revenue guidance of $800-850 million, compared to the consensus revenue estimate of $801.66 million.
A number of research firms have recently weighed in on LSTR. Zacks Investment Research upgraded Landstar System from a sell rating to a hold rating in a report on Tuesday, October 4th. Oppenheimer Holdings Inc. lowered Landstar System to an outperform rating in a research note on Tuesday, August 2nd. Finally, Citigroup Inc. lowered Landstar System to a market perform rating in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. Landstar System has an average rating of Hold and a consensus price target of $62.66.
Shares of Landstar System Inc. (NASDAQ:LSTR) remained flat at $65.75 during midday trading on Wednesday. The stock had a trading volume of 752,754 shares. Landstar System Inc. has a 12-month low of $53.03 and a 12-month high of $72.97. The firm has a market capitalization of $2.77 billion, a P/E ratio of 20.32 and a beta of 0.80. The firm’s 50 day moving average is $67.29 and its 200 day moving average is $67.44.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, October 19th. The company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. The business earned $788 million during the quarter, compared to the consensus estimate of $576.65 million. Landstar System had a return on equity of 28.83% and a net margin of 4.37%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, equities analysts forecast that Landstar System Inc. will post $3.08 earnings per share for the current fiscal year.
In other Landstar System news, CMO Patrick J. O’malley sold 1,787 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $69.17, for a total transaction of $123,606.79. Following the completion of the sale, the chief marketing officer now owns 40,237 shares of the company’s stock, valued at $2,783,193.29. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of LSTR. Hsbc Holdings PLC increased its stake in Landstar System by 6.0% in the second quarter. Hsbc Holdings PLC now owns 4,567 shares of the company’s stock worth $313,000 after buying an additional 257 shares during the period. Comerica Bank increased its stake in Landstar System by 1.7% in the second quarter. Comerica Bank now owns 29,973 shares of the company’s stock worth $2,079,000 after buying an additional 507 shares during the period. Citigroup Inc. increased its stake in Landstar System by 8.5% in the second quarter. Citigroup Inc. now owns 10,615 shares of the company’s stock worth $728,000 after buying an additional 833 shares during the period. Riverhead Capital Management LLC increased its stake in Landstar System by 15.2% in the second quarter. Riverhead Capital Management LLC now owns 7,260 shares of the company’s stock worth $481,000 after buying an additional 960 shares during the period. Finally, Rhumbline Advisers increased its stake in Landstar System by 1.8% in the second quarter. Rhumbline Advisers now owns 88,145 shares of the company’s stock worth $6,052,000 after buying an additional 1,592 shares during the period.
Landstar System Company Profile
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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