KeyCorp Weighs in on Ryder System Inc.’s Q3 2016 Earnings (R)
Ryder System Inc. (NYSE:R) – Analysts at KeyCorp lowered their Q3 2016 earnings per share (EPS) estimates for Ryder System in a research report issued to clients and investors on Thursday. KeyCorp analyst T. Fowler now forecasts that the brokerage will post earnings per share of $1.65 for the quarter, down from their previous forecast of $1.70. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Ryder System’s Q4 2016 earnings at $1.57 EPS, FY2016 earnings at $5.90 EPS and FY2017 earnings at $6.05 EPS.
A number of other equities research analysts also recently weighed in on R. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Ryder System in a research report on Monday, June 13th. Zacks Investment Research raised Ryder System from a “sell” rating to a “hold” rating in a report on Friday, September 23rd. Robert W. Baird reissued a “buy” rating on shares of Ryder System in a report on Monday, June 13th. Finally, Credit Agricole SA initiated coverage on Ryder System in a report on Friday, September 30th. They issued a “buy” rating and a $80.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $81.38.
Ryder System (NYSE:R) opened at 67.42 on Monday. The company has a market capitalization of $3.61 billion, a P/E ratio of 12.17 and a beta of 1.63. The company’s 50 day moving average price is $65.49 and its 200-day moving average price is $65.84. Ryder System has a 52 week low of $45.12 and a 52 week high of $74.19.
Ryder System (NYSE:R) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.02. The company earned $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. Ryder System had a return on equity of 16.21% and a net margin of 4.44%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 EPS.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Japan Co. Ltd boosted its position in shares of Ryder System by 1.4% in the first quarter. BlackRock Japan Co. Ltd now owns 2,735 shares of the company’s stock valued at $177,000 after buying an additional 39 shares in the last quarter. Advance Capital I Inc. bought a new position in shares of Ryder System during the second quarter valued at $202,000. Sentry Investment Management LLC bought a new position in shares of Ryder System during the first quarter valued at $203,000. First Mercantile Trust Co. bought a new position in shares of Ryder System during the third quarter valued at $208,000. Finally, Societe Generale bought a new position in shares of Ryder System during the second quarter valued at $215,000. Hedge funds and other institutional investors own 90.95% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Monday, November 21st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, November 17th. Ryder System’s payout ratio is 31.71%.
About Ryder System
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides full service leasing, commercial rental, contract maintenance and contract-related maintenance of trucks, tractors and trailers to customers in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
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