Ryder System (NYSE:R) Updates FY24 Earnings Guidance

Ryder System (NYSE:R) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $11.75-12.50 for the period, compared to the consensus earnings per share estimate of $11.69. Ryder System also updated its FY 2024 guidance to 11.750-12.500 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on R. Wells Fargo & Company boosted their price target on shares of Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. Stephens boosted their price objective on shares of Ryder System from $110.00 to $113.00 and gave the company an equal weight rating in a research report on Thursday, February 15th. The Goldman Sachs Group reiterated a buy rating and set a $122.00 price objective on shares of Ryder System in a research report on Thursday, February 15th. Robert W. Baird reiterated a buy rating and set a $140.00 price objective on shares of Ryder System in a research report on Wednesday, January 3rd. Finally, StockNews.com cut shares of Ryder System from a buy rating to a hold rating in a research report on Saturday, April 13th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $120.00.

Ryder System Stock Up 3.9 %

Shares of R opened at $113.27 on Tuesday. The firm has a market capitalization of $5.01 billion, a P/E ratio of 12.49 and a beta of 1.40. Ryder System has a 12-month low of $76.15 and a 12-month high of $121.58. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.80. The firm has a fifty day moving average price of $114.19 and a 200-day moving average price of $110.43.

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

Ryder System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Friday, February 16th. Ryder System’s dividend payout ratio (DPR) is presently 32.53%.

Insider Buying and Selling

In related news, CMO Karen M. Jones sold 7,737 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total value of $877,994.76. Following the completion of the sale, the chief marketing officer now directly owns 12,396 shares of the company’s stock, valued at $1,406,698.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.10% of the stock is owned by insiders.

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.