Ryder System (NYSE:R) Issues Q2 Earnings Guidance

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Vertical Research downgraded shares of Ryder System from a buy rating to a hold rating and set a $120.00 price target for the company. in a research note on Wednesday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Ryder System from $117.00 to $120.00 and gave the company a neutral 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. Robert W. Baird reissued a buy rating and set a $140.00 target price on shares of Ryder System in a research report on Wednesday, January 3rd. Finally, The Goldman Sachs Group reissued a buy rating and set a $122.00 price objective on shares of Ryder System in a report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Ryder System currently has a consensus rating of Hold and a consensus target price of $120.00.

Ryder System Trading Up 3.9 %

NYSE:R opened at $113.27 on Tuesday. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 12.49 and a beta of 1.40. Ryder System has a 52 week low of $76.15 and a 52 week high of $121.58. 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 firm has a 50 day moving average of $114.19 and a 200 day moving average of $110.43.

Ryder System (NYSE:R) last issued its quarterly earnings data on Wednesday, February 14th. The transportation company reported $2.95 EPS for the quarter, beating 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 firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business posted $3.89 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Investors of record on Tuesday, February 20th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s payout ratio is currently 32.53%.

Insider Buying and Selling

In related news, CMO Karen M. Jones sold 7,737 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total value of $877,994.76. Following the completion of the transaction, the chief marketing officer now owns 12,396 shares in the company, valued at approximately $1,406,698.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.10% of the stock is owned by company insiders.

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.