Landstar System (NASDAQ:LSTR) Issues Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• Landstar System reported a quarterly EPS of $1.20, exceeding expectations by $0.05.
• The company declared an increased quarterly dividend of $0.40 per share, up from $0.36, reflecting a 1.16% dividend yield.
• Landstar System's stock experienced a 2.3% decline, trading at $137.92 after significant volume exchange.

Landstar System (NASDAQ:LSTR - Get Free Report) issued its earnings results on Tuesday. The transportation company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.04, Zacks reports. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The firm's revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.48 EPS.

Landstar System Stock Performance

Shares of Landstar System stock opened at $137.92 on Wednesday. The business's fifty day simple moving average is $139.67 and its 200 day simple moving average is $147.45. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.07. Landstar System has a 12 month low of $128.99 and a 12 month high of $196.86. The firm has a market capitalization of $4.82 billion, a P/E ratio of 27.31 and a beta of 0.88.

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.16%. This is an increase from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date was Thursday, June 5th. Landstar System's dividend payout ratio (DPR) is presently 31.68%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LSTR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Landstar System by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company's stock worth $21,380,000 after purchasing an additional 16,698 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Landstar System by 57.1% in the first quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company's stock worth $20,729,000 after buying an additional 50,142 shares during the last quarter. Empowered Funds LLC increased its position in Landstar System by 38.3% in the first quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company's stock worth $704,000 after buying an additional 1,298 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Landstar System by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company's stock valued at $566,000 after buying an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock valued at $37,000 after buying an additional 142 shares during the last quarter. Institutional investors own 97.95% of the company's stock.

Analyst Ratings Changes

LSTR has been the subject of several recent research reports. Baird R W upgraded Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. UBS Group set a $154.00 price target on shares of Landstar System in a research note on Wednesday, May 14th. Benchmark reaffirmed a "hold" rating on shares of Landstar System in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on shares of Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a research report on Tuesday, July 8th. Finally, TD Cowen lowered their target price on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $151.31.

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.