Brokers Set Expectations for Ryder System, Inc.’s Q1 2018 Earnings (R)
Ryder System, Inc. (NYSE:R) – Seaport Global Securities reduced their Q1 2018 EPS estimates for shares of Ryder System in a research note issued on Tuesday. Seaport Global Securities analyst K. Sterling now expects that the transportation company will earn $0.86 per share for the quarter, down from their prior estimate of $0.93. Seaport Global Securities also issued estimates for Ryder System’s Q2 2018 earnings at $1.31 EPS, Q3 2018 earnings at $1.66 EPS, FY2018 earnings at $5.50 EPS, Q1 2019 earnings at $1.04 EPS, Q2 2019 earnings at $1.45 EPS, Q3 2019 earnings at $1.85 EPS, Q4 2019 earnings at $1.76 EPS and FY2019 earnings at $6.10 EPS.
A number of other research firms also recently commented on R. Buckingham Research increased their target price 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. Zacks Investment Research downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. ValuEngine downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $86.00 target price on shares of Ryder System in a research report on Thursday, January 18th. Finally, KeyCorp dropped their target price on shares of Ryder System from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $88.00.
Ryder System (NYSE:R) last announced its quarterly earnings data on Friday, February 16th. The transportation company reported $1.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.01. Ryder System had a net margin of 10.78% and a return on equity of 10.47%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the business earned $1.07 EPS. The company’s revenue was up 12.2% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Tuesday, February 20th will be given a dividend of $0.52 per share. This is an increase from Ryder System’s previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, February 16th. Ryder System’s dividend payout ratio (DPR) is presently 13.97%.
Ryder System announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 14th that permits the company to repurchase 1,500,000 outstanding shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other Ryder System news, EVP Robert D. Fatovic sold 17,755 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $82.44, for a total transaction of $1,463,722.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.95% of the company’s stock.
Institutional investors have recently modified their holdings of the business. MetLife Investment Advisors LLC purchased a new stake in shares of Ryder System in the fourth quarter valued at about $2,820,000. Vident Investment Advisory LLC boosted its holdings in shares of Ryder System by 13.1% in the fourth quarter. Vident Investment Advisory LLC now owns 39,751 shares of the transportation company’s stock valued at $3,346,000 after acquiring an additional 4,613 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Ryder System by 61.6% in the fourth quarter. Jane Street Group LLC now owns 5,619 shares of the transportation company’s stock valued at $473,000 after acquiring an additional 2,142 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Ryder System by 102.3% in the fourth quarter. Millennium Management LLC now owns 567,901 shares of the transportation company’s stock valued at $47,800,000 after acquiring an additional 287,241 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its holdings in shares of Ryder System by 1.5% in the fourth quarter. Flinton Capital Management LLC now owns 97,478 shares of the transportation company’s stock valued at $8,205,000 after acquiring an additional 1,428 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors.
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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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