Landstar System (NASDAQ:LSTR) Issues Earnings Results, Beats Expectations By $0.02 EPS

Landstar System (NASDAQ:LSTR) announced its quarterly earnings data on Tuesday. The transportation company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02, Briefing.com reports. Landstar System had a net margin of 4.49% and a return on equity of 21.61%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the business posted $1.85 EPS. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. Landstar System updated its Q3 2024 guidance to 1.350-1.550 EPS and its Q3 guidance to $1.35-1.55 EPS.

Landstar System Stock Down 1.8 %

LSTR stock opened at $186.80 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22. The firm’s fifty day simple moving average is $182.75 and its 200-day simple moving average is $184.97. Landstar System has a 12 month low of $161.13 and a 12 month high of $203.19. The company has a market capitalization of $6.68 billion, a P/E ratio of 28.74 and a beta of 0.80.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be issued a $0.36 dividend. This is an increase from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, August 20th. Landstar System’s dividend payout ratio is 20.31%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LSTR. Raymond James decreased their price objective on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday. Susquehanna boosted their price target on shares of Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday. Morgan Stanley reduced their price target on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. boosted their price target on shares of Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Benchmark restated a “hold” rating on shares of Landstar System in a report on Wednesday. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $179.73.

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.