Ryder System, Inc. to Issue Quarterly Dividend of $0.81 (NYSE:R)

Ryder System, Inc. (NYSE:R) announced a quarterly dividend on Wednesday, October 9th, Zacks reports. Shareholders of record on Monday, November 18th will be paid a dividend of 0.81 per share by the transportation company on Friday, December 20th. This represents a $3.24 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Monday, November 18th.

Ryder System has raised its dividend payment by an average of 5.9% per year over the last three years and has increased its dividend annually for the last 20 consecutive years. Ryder System has a dividend payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ryder System to earn $14.32 per share next year, which means the company should continue to be able to cover its $3.24 annual dividend with an expected future payout ratio of 22.6%.

Ryder System Price Performance

Shares of NYSE:R traded up $1.45 during midday trading on Friday, hitting $148.00. The stock had a trading volume of 984 shares, compared to its average volume of 258,741. The company’s 50-day moving average price is $139.92 and its 200-day moving average price is $128.75. Ryder System has a fifty-two week low of $91.31 and a fifty-two week high of $150.00. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $6.41 billion, a P/E ratio of 13.42 and a beta of 1.28.

Ryder System (NYSE:R) last released its quarterly earnings data on Thursday, July 25th. The transportation company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.13. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.24 billion. Ryder System had a return on equity of 17.22% and a net margin of 4.06%. Ryder System’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $3.61 earnings per share. As a group, equities research analysts predict that Ryder System will post 12.2 EPS for the current fiscal year.

Insider Activity

In related news, EVP Francisco Jr. Lopez sold 12,730 shares of Ryder System stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $139.32, for a total transaction of $1,773,543.60. Following the transaction, the executive vice president now owns 47,779 shares of the company’s stock, valued at $6,656,570.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on R shares. StockNews.com cut shares of Ryder System from a “buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird raised their price objective on Ryder System from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Morgan Stanley started coverage on Ryder System in a report on Monday, June 24th. They issued an “overweight” rating and a $165.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on shares of Ryder System from $126.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Stephens started coverage on shares of Ryder System in a research report on Monday, July 8th. They set an “equal weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.86.

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.