Landstar System (LSTR) reported quarterly earnings results on Wednesday, Apr-20-2016. The company said it had a profit of $0.69 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.68. The company posted revenue of $711.64 million in the period, compared to analysts expectations of $717.33 million. The company’s revenue was down -6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.
Many Wall Street Analysts have commented on Landstar System. Shares were Downgraded by Cowen on Apr 1, 2016 to ” Market Perform” and Lowered the Price Target to $ 63 from a previous price target of $64 .Landstar System was Downgraded by Stifel to ” Hold” on Mar 31, 2016. Landstar System was Downgraded by Macquarie to ” Underperform” on Mar 30, 2016.
Landstar System opened for trading at $64.95 and hit $65.43 on the upside on Monday, eventually ending the session at $65.14, with a gain of 0.20% or 0.13 points. The heightened volatility saw the trading volume jump to 2,89,561 shares. Company has a market cap of $2,763 M.
In a different news, on Nov 25, 2015, L Kevin Stout (VP, CFO and Asst Secretary) sold 269 shares at $62.43 per share price. According to the SEC, on Jul 30, 2015, Patrick J O’malley (VP, CCO, CMO) sold 10,816 shares at $71.29 per share price. On Jun 15, 2015, Joseph J Beacom (VP, CSO, COO) sold 2,500 shares at $67.28 per share price, according to the Form-4 filing with the securities and exchange commission.
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 all of a customers transportation needs. The Company operates in two segments: the Transportation Logistics segment which provides a range of integrated transportation management solutions and the Insurance segment which provides risk and claims management services to certain of Landstars operating subsidiaries. Landstar provides services throughout the United States Canada Mexico and other countries around the world. The Companys services are delivered through a network of independent commission sales agents and third-party capacity providers linked together by a series of technological applications which are provided and coordinated by the Company.