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 Upgrades and Downgrades

R has been the topic of a number of recent analyst reports. StockNews.com cut Ryder System from a buy rating to a hold rating in a report on Saturday, April 13th. Stephens raised their price target on Ryder System from $110.00 to $113.00 and gave the company an equal weight rating in a report on Thursday, February 15th. The Goldman Sachs Group reissued a buy rating and set a $122.00 price target on shares of Ryder System in a report on Thursday, February 15th. Robert W. Baird reissued a buy rating and set a $140.00 price target on shares of Ryder System in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company lifted their target price on Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a report on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Ryder System currently has a consensus rating of Hold and a consensus price target of $120.00.

Ryder System Trading Up 10.0 %

NYSE R traded up $10.91 during trading hours on Tuesday, hitting $119.91. 96,382 shares of the company were exchanged, compared to its average volume of 251,639. The stock has a 50-day moving average price of $114.19 and a 200 day moving average price of $110.43. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.80. Ryder System has a 52 week low of $76.15 and a 52 week high of $121.58. The stock has a market cap of $5.30 billion, a PE ratio of 13.72 and a beta of 1.40.

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

Ryder System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, February 16th. This represents a $2.84 annualized dividend and a yield of 2.37%. Ryder System’s payout ratio is currently 32.53%.

Insider Buying and Selling at Ryder System

In other Ryder System 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 transaction, the chief marketing officer now owns 12,396 shares in the company, valued at $1,406,698.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.10% of the company’s stock.

About Ryder System

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.