$1.83 Billion in Sales Expected for Ryder System, Inc. (R) This Quarter
Brokerages forecast that Ryder System, Inc. (NYSE:R) will announce $1.83 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Ryder System’s earnings. The lowest sales estimate is $1.81 billion and the highest is $1.88 billion. Ryder System posted sales of $1.73 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.8%. The company is scheduled to report its next quarterly earnings report on Thursday, February 1st.
On average, analysts expect that Ryder System will report full year sales of $1.83 billion for the current year, with estimates ranging from $7.20 billion to $7.27 billion. For the next year, analysts forecast that the business will report sales of $7.54 billion per share, with estimates ranging from $7.44 billion to $7.80 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Ryder System.
Ryder System (NYSE:R) last released its quarterly earnings results on Tuesday, October 24th. The transportation company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. Ryder System had a net margin of 2.75% and a return on equity of 10.72%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.67 EPS.
R has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Tuesday, September 26th. Buckingham Research boosted their price target on shares of Ryder System from $92.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. ValuEngine lowered shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. JPMorgan Chase & Co. boosted their price target on shares of Ryder System from $69.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Finally, Aegis restated a “buy” rating and set a $91.00 price target (up from $84.00) on shares of Ryder System in a research report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $85.00.
In other Ryder System news, insider Dennis C. Cooke sold 32,328 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $81.46, for a total value of $2,633,438.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John J. Gleason sold 8,760 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $78.30, for a total transaction of $685,908.00. The disclosure for this sale can be found here. Insiders sold 63,633 shares of company stock valued at $5,174,795 over the last quarter. 1.95% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Cipher Capital LP raised its stake in shares of Ryder System by 152.2% during the second quarter. Cipher Capital LP now owns 21,794 shares of the transportation company’s stock valued at $1,569,000 after acquiring an additional 13,153 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Ryder System by 38.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 436,759 shares of the transportation company’s stock worth $36,928,000 after buying an additional 120,817 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Ryder System by 10.9% in the second quarter. Goldman Sachs Group Inc. now owns 643,399 shares of the transportation company’s stock worth $46,312,000 after buying an additional 63,055 shares in the last quarter. Schroder Investment Management Group raised its stake in Ryder System by 20.1% in the second quarter. Schroder Investment Management Group now owns 875,380 shares of the transportation company’s stock worth $62,896,000 after buying an additional 146,745 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Ryder System by 173.4% in the second quarter. Principal Financial Group Inc. now owns 226,288 shares of the transportation company’s stock worth $16,288,000 after buying an additional 143,515 shares in the last quarter. 89.35% of the stock is owned by hedge funds and other institutional investors.
Ryder System (NYSE:R) traded up $1.01 on Thursday, hitting $87.41. 542,000 shares of the stock were exchanged, compared to its average volume of 594,600. The stock has a market cap of $4,574.68, a price-to-earnings ratio of 23.69, a P/E/G ratio of 1.09 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.02 and a quick ratio of 0.96. Ryder System has a 12-month low of $62.52 and a 12-month high of $87.71.
Ryder System declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 14th that authorizes the company to repurchase 1,500,000 shares. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Monday, November 20th were given a $0.46 dividend. The ex-dividend date of this dividend was Friday, November 17th. This represents a $1.84 annualized dividend and a yield of 2.11%. Ryder System’s dividend payout ratio (DPR) is presently 49.86%.
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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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