Ryder System, Inc. (NYSE:R) Expected to Announce Earnings of $0.93 Per Share
Equities analysts predict that Ryder System, Inc. (NYSE:R) will report earnings of $0.93 per share for the current quarter, according to Zacks. Six analysts have issued estimates for Ryder System’s earnings, with the highest EPS estimate coming in at $0.99 and the lowest estimate coming in at $0.89. Ryder System reported earnings per share of $1.56 during the same quarter last year, which would suggest a negative year-over-year growth rate of 40.4%. The company is scheduled to report its next earnings results before the market opens on Wednesday, July 26th.
According to Zacks, analysts expect that Ryder System will report full year earnings of $4.37 per share for the current financial year, with EPS estimates ranging from $4.30 to $4.50. For the next year, analysts expect that the company will post earnings of $5.00 per share, with EPS estimates ranging from $4.71 to $5.60. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Ryder System.
Ryder System (NYSE:R) last released its quarterly earnings data on Tuesday, April 25th. The transportation company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by $0.02. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.68 billion. Ryder System had a net margin of 3.55% and a return on equity of 13.27%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 earnings per share.
A number of brokerages have commented on R. Zacks Investment Research downgraded Ryder System from a “hold” rating to a “strong sell” rating in a research note on Friday, April 28th. Seaport Global Securities began coverage on Ryder System in a research note on Friday, April 21st. They issued a “neutral” rating on the stock. Stephens downgraded Ryder System from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $81.00 to $71.00 in a research note on Wednesday, April 26th. BidaskClub upgraded Ryder System from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. Finally, ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Ryder System has an average rating of “Buy” and an average price target of $77.00.
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Ryder System (R) traded up 0.04% during trading on Tuesday, hitting $72.48. The stock had a trading volume of 669,888 shares. The company has a market cap of $3.88 billion, a P/E ratio of 15.87 and a beta of 1.39. Ryder System has a 12-month low of $62.03 and a 12-month high of $85.42. The company has a 50 day moving average of $69.88 and a 200-day moving average of $72.51.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 21st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.84 dividend on an annualized basis and a yield of 2.54%. This is an increase from Ryder System’s previous quarterly dividend of $0.44. Ryder System’s payout ratio is 38.34%.
A number of hedge funds and other institutional investors have recently modified their holdings of R. Private Advisor Group LLC bought a new stake in Ryder System during the first quarter valued at about $116,000. LS Investment Advisors LLC increased its stake in Ryder System by 28.8% in the first quarter. LS Investment Advisors LLC now owns 2,473 shares of the transportation company’s stock valued at $187,000 after buying an additional 553 shares during the period. Creative Planning increased its stake in Ryder System by 10.0% in the second quarter. Creative Planning now owns 2,904 shares of the transportation company’s stock valued at $209,000 after buying an additional 264 shares during the period. Boston Advisors LLC bought a new stake in Ryder System during the first quarter valued at about $224,000. Finally, Contravisory Investment Management Inc. increased its stake in Ryder System by 31.7% in the first quarter. Contravisory Investment Management Inc. now owns 3,196 shares of the transportation company’s stock valued at $241,000 after buying an additional 770 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.
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 leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally 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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