Landstar System (NASDAQ:LSTR) Updates Q3 Earnings Guidance

Landstar System (NASDAQ:LSTR) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $1.35-1.55 for the period, compared to the consensus EPS estimate of $1.61. The company issued revenue guidance of $1.175-1.275 billion, compared to the consensus revenue estimate of $1.30 billion. Landstar System also updated its Q3 2024 guidance to 1.350-1.550 EPS.

Landstar System Stock Performance

Shares of NASDAQ:LSTR traded up $2.73 during trading on Tuesday, hitting $193.87. The stock had a trading volume of 309,643 shares, compared to its average volume of 271,831. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.04. Landstar System has a 12-month low of $161.13 and a 12-month high of $203.65. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 30.05 and a beta of 0.80. The stock has a 50-day simple moving average of $182.11 and a two-hundred day simple moving average of $184.92.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Stifel Nicolaus dropped their price objective 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. Raymond James assumed 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. Morgan Stanley reduced their price objective on Landstar System from $147.00 to $145.00 and set an equal weight rating for the company in a research note on Monday, July 8th. Benchmark restated a hold rating on shares of Landstar System in a research note on Friday, April 26th. Finally, Wolfe Research lowered Landstar System from an outperform rating to a peer perform rating in a report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Landstar System 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.