Ryder System (NYSE:R) Updates Q2 Earnings Guidance

Ryder System (NYSE:R) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $2.75-2.95 for the period, compared to the consensus earnings per share estimate of $2.83. Ryder System also updated its FY 2024 guidance to 11.750-12.500 EPS.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com raised Ryder System from a hold rating to a buy rating in a research note on Wednesday. Vertical Research lowered Ryder System from a buy rating to a hold rating and set a $120.00 price objective on the stock. in a research note on Wednesday, January 10th. Wells Fargo & Company lifted their price objective on Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a research note on Thursday, February 15th. Robert W. Baird reaffirmed a buy rating and issued a $140.00 price objective on shares of Ryder System in a research note on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Ryder System from $120.00 to $126.00 and gave the stock a neutral rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Ryder System currently has an average rating of Hold and an average target price of $123.71.

Ryder System Trading Up 0.2 %

Shares of Ryder System stock opened at $122.39 on Friday. The stock has a fifty day simple moving average of $114.74 and a 200 day simple moving average of $110.74. Ryder System has a 12-month low of $76.15 and a 12-month high of $123.45. The company has a market capitalization of $5.36 billion, a P/E ratio of 15.94 and a beta of 1.40. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 2.22.

Ryder System (NYSE:R) last announced its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.43. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the company posted $2.81 earnings per share. Ryder System’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Ryder System will post 11.9 earnings per share for the current fiscal year.

Ryder System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.32%. Ryder System’s dividend payout ratio is presently 36.98%.

Insider Activity

In related news, CMO Karen M. Jones sold 7,737 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total transaction of $877,994.76. Following the sale, the chief marketing officer now owns 12,396 shares of the company’s stock, valued at approximately $1,406,698.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.