Landstar System (NASDAQ:LSTR) Releases Earnings Results, Misses Estimates By $0.01 EPS
Landstar System (NASDAQ:LSTR) posted its earnings results on Wednesday. The transportation company reported $1.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.01), RTT News reports. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.07 billion. Landstar System had a return on equity of 36.17% and a net margin of 5.82%. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period last year, the company posted $1.51 EPS. Landstar System updated its Q3 2019 guidance to $1.48-1.54 EPS and its Q3 guidance to $1.48-1.54 EPS.
LSTR stock traded up $2.46 during trading hours on Friday, hitting $113.88. 337,303 shares of the stock traded hands, compared to its average volume of 341,165. The firm has a 50-day moving average of $106.29. Landstar System has a one year low of $90.23 and a one year high of $128.70. The firm has a market capitalization of $4.47 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.48 and a beta of 1.26. The company has a current ratio of 1.98, a quick ratio of 2.00 and a debt-to-equity ratio of 0.09.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.74 annualized dividend and a yield of 0.65%. This is a boost from Landstar System’s previous quarterly dividend of $0.17. Landstar System’s dividend payout ratio (DPR) is currently 10.68%.
In related news, CMO Patrick J. O’malley sold 23,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $110.82, for a total value of $2,548,860.00. Following the completion of the transaction, the chief marketing officer now owns 20,929 shares in the company, valued at approximately $2,319,351.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph J. Beacom sold 5,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $114.12, for a total value of $570,600.00. Following the completion of the transaction, the chief operating officer now owns 45,924 shares of the company’s stock, valued at approximately $5,240,846.88. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Systematic Financial Management LP acquired a new stake in Landstar System during the 2nd quarter worth about $917,000. Virginia Retirement Systems ET AL boosted its position in Landstar System by 2.9% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 10,500 shares of the transportation company’s stock worth $1,134,000 after acquiring an additional 300 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Landstar System during the 2nd quarter worth about $60,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Landstar System during the 2nd quarter worth about $400,000. Finally, Arizona State Retirement System raised its stake in shares of Landstar System by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 29,149 shares of the transportation company’s stock worth $3,148,000 after purchasing an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.
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 service providers.
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