Landstar System (NASDAQ:LSTR) Releases Q3 2024 Earnings Guidance

Landstar System (NASDAQ:LSTR) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.350-1.550 for the period, compared to the consensus estimate of 1.600. The company issued revenue guidance of $1.2 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. Landstar System also updated its Q3 guidance to $1.35-1.55 EPS.

Landstar System Stock Performance

NASDAQ:LSTR traded up $2.73 during mid-day trading on Tuesday, hitting $193.87. The stock had a trading volume of 309,643 shares, compared to its average volume of 271,831. Landstar System has a twelve month low of $161.13 and a twelve month high of $203.65. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of 30.05 and a beta of 0.80. The company’s 50 day simple moving average is $182.11 and its 200 day simple moving average is $184.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22.

Wall Street Analysts Forecast Growth

LSTR has been the subject of several recent analyst reports. Evercore ISI raised their target price on shares of Landstar System from $161.00 to $173.00 and gave the company an in-line rating in a research note on Tuesday, June 25th. Benchmark reissued a hold rating on shares of Landstar System in a report on Friday, April 26th. Susquehanna lowered their price target on shares of Landstar System from $165.00 to $160.00 and set a neutral rating on the stock in a report on Friday, April 26th. Raymond James initiated coverage on shares of Landstar System in a report on Wednesday, May 15th. They issued an outperform rating and a $205.00 price target on the stock. Finally, Stifel Nicolaus lowered their price target on shares of Landstar System from $166.00 to $164.00 and set a hold rating on the stock in a report on Monday, April 29th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $180.80.

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.