Ryder System (NYSE:R) Issues FY 2024 Earnings Guidance

Ryder System (NYSE:R) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 11.750-12.500 for the period, compared to the consensus EPS estimate of 11.690. The company issued revenue guidance of $10.4 billion-$10.4 billion, compared to the consensus revenue estimate of $13.1 billion. Ryder System also updated its FY24 guidance to $11.75-12.50 EPS.

Analyst Ratings Changes

A number of brokerages have recently commented on R. Robert W. Baird reissued a buy rating and set a $140.00 price target on shares of Ryder System in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. raised their price objective on Ryder System from $117.00 to $120.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. The Goldman Sachs Group restated a buy rating and set a $122.00 price objective on shares of Ryder System in a research report on Thursday, February 15th. StockNews.com downgraded Ryder System from a buy rating to a hold rating in a research report on Saturday, April 13th. Finally, Stephens raised their price objective on Ryder System from $110.00 to $113.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $120.00.

Ryder System Trading Up 0.3 %

Shares of R stock opened at $109.00 on Tuesday. The company has a market cap of $4.82 billion, a P/E ratio of 12.49 and a beta of 1.40. The stock has a 50 day simple moving average of $114.19 and a two-hundred day simple moving average of $110.43. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.62 and a current ratio of 0.62. Ryder System has a fifty-two week low of $76.15 and a fifty-two week high of $121.58.

Ryder System (NYSE:R) last issued its earnings results on Wednesday, February 14th. The transportation company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.20. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.98 billion. Ryder System had a return on equity of 19.68% and a net margin of 3.45%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.89 earnings per share. Research analysts forecast that Ryder System will post 11.9 earnings per share for the current year.

Ryder System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, February 16th. This represents a $2.84 annualized dividend and a dividend yield of 2.61%. Ryder System’s dividend payout ratio is 32.53%.

Insider Activity

In other news, CMO Karen M. Jones sold 7,737 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total transaction of $877,994.76. Following the completion of the sale, the chief marketing officer now owns 12,396 shares in the company, valued at $1,406,698.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.10% of the company’s stock.

Ryder System Company Profile

Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.