Landstar System, Inc. (NASDAQ:LSTR) – Equities research analysts at Oppenheimer Holdings raised their FY2017 EPS estimates for Landstar System in a report issued on Sunday. Oppenheimer Holdings analyst S. Schneeberger now expects that the transportation company will earn $3.53 per share for the year, up from their prior forecast of $3.51. Oppenheimer Holdings also issued estimates for Landstar System’s FY2018 earnings at $3.95 EPS.
Several other brokerages have also recently commented on LSTR. BidaskClub cut Landstar System from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research note on Thursday, July 6th. Stifel Nicolaus upped their price target on Landstar System from $81.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Cowen and Company upped their price target on Landstar System from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Thursday, April 27th. Finally, Deutsche Bank AG lowered Landstar System from a “buy” rating to a “hold” rating and cut their price target for the company from $97.00 to $87.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $87.67.
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Shares of Landstar System (LSTR) opened at 83.15 on Tuesday. The company has a market capitalization of $3.49 billion, a PE ratio of 24.02 and a beta of 0.75. The firm has a 50-day moving average of $86.55 and a 200 day moving average of $85.37. Landstar System has a 12 month low of $65.05 and a 12 month high of $90.80.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Landstar System had a net margin of 4.37% and a return on equity of 26.11%. The business had revenue of $870.34 million for the quarter, compared to analysts’ expectations of $859.30 million. During the same period in the previous year, the business earned $0.76 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Landstar System by 7,684.2% in the first quarter. BlackRock Inc. now owns 4,087,876 shares of the transportation company’s stock valued at $350,127,000 after buying an additional 4,035,361 shares during the last quarter. First Trust Advisors LP raised its position in Landstar System by 505.1% in the first quarter. First Trust Advisors LP now owns 264,257 shares of the transportation company’s stock valued at $22,634,000 after buying an additional 220,586 shares during the last quarter. Vanguard Group Inc. raised its position in Landstar System by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,382,917 shares of the transportation company’s stock valued at $289,747,000 after buying an additional 130,461 shares during the last quarter. Renaissance Technologies LLC raised its position in Landstar System by 71.7% in the first quarter. Renaissance Technologies LLC now owns 212,340 shares of the transportation company’s stock valued at $18,187,000 after buying an additional 88,700 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Landstar System by 78.4% in the first quarter. AQR Capital Management LLC now owns 165,261 shares of the transportation company’s stock valued at $14,155,000 after buying an additional 72,636 shares during the last quarter. 97.12% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be paid a $0.10 dividend. This is a positive change from Landstar System’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, August 10th. This represents a $0.40 annualized dividend and a yield of 0.48%. Landstar System’s dividend payout ratio is presently 10.40%.
About Landstar System
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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