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

Ryder System (NYSE:R) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 11.750-12.500 for the period, compared to the consensus 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.

Ryder System Stock Down 2.2 %

Ryder System stock traded down $2.63 during trading hours on Wednesday, hitting $119.38. The stock had a trading volume of 136,447 shares, compared to its average volume of 258,314. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $5.28 billion, a P/E ratio of 13.85 and a beta of 1.40. Ryder System has a 12-month low of $76.15 and a 12-month high of $122.94. The stock’s 50-day moving average price is $114.26 and its 200-day moving average price is $110.58.

Ryder System (NYSE:R) last announced its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.43. Ryder System had a net margin of 3.45% and a return on equity of 19.68%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the business posted $2.81 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Ryder System will post 11.9 EPS for the current fiscal year.

Ryder System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were given a $0.71 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.38%. Ryder System’s payout ratio is currently 32.53%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on R shares. JPMorgan Chase & Co. boosted their target price on shares of Ryder System from $120.00 to $126.00 and gave the stock a neutral rating in a report on Wednesday. Robert W. Baird reaffirmed a buy rating and set a $140.00 price target on shares of Ryder System in a research note on Wednesday, January 3rd. Wells Fargo & Company upped their price target on shares of Ryder System from $100.00 to $120.00 and gave the company an equal weight rating in a research note on Thursday, February 15th. StockNews.com downgraded shares of Ryder System from a buy rating to a hold rating in a research note on Saturday, April 13th. Finally, Vertical Research downgraded shares of Ryder System from a buy rating to a hold rating and set a $120.00 target price on the stock. in a research note on Wednesday, January 10th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $123.71.

Insider Buying and Selling

In other news, CMO Karen M. Jones sold 7,737 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were 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 of the company’s stock, valued at $1,406,698.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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.