Ryder System (NYSE:R) Posts Earnings Results, Beats Expectations By $0.18 EPS

Ryder System (NYSE:R) issued its quarterly earnings results on Thursday. The transportation company reported $4.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $0.18, FiscalAI reports. Ryder System had a return on equity of 18.28% and a net margin of 3.88%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the firm posted $3.57 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year.

Ryder System Stock Up 6.3%

Shares of R traded up $15.15 on Thursday, hitting $255.46. The company’s stock had a trading volume of 143,723 shares, compared to its average volume of 358,056. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.91. The firm’s fifty day moving average price is $242.27 and its 200-day moving average price is $248.67. Ryder System has a fifty-two week low of $157.67 and a fifty-two week high of $284.25. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 20.81 and a beta of 1.05.

Ryder System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, November 23rd will be given a $1.01 dividend. The ex-dividend date is Monday, November 23rd. This represents a $4.04 annualized dividend and a dividend yield of 1.6%. Ryder System’s payout ratio is currently 32.87%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on R shares. Wells Fargo & Company boosted their price objective on Ryder System from $290.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Susquehanna reduced their price target on Ryder System from $310.00 to $280.00 and set a “positive” rating on the stock in a research report on Friday, October 2nd. Citizens Jmp initiated coverage on Ryder System in a research report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Wall Street Zen raised Ryder System from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 12th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $245.00 price objective (down from $290.00) on shares of Ryder System in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.12.

About Ryder System

Ryder System, Inc is a transportation and logistics company that provides fleet management, supply chain and dedicated transportation services. Founded in 1933 by James Ryder and headquartered in Miami, Florida, the company serves businesses that rely on commercial vehicles, transportation networks and logistics infrastructure.

Through its Fleet Management Solutions business, Ryder offers full-service leasing, commercial vehicle rental, maintenance, fleet support and related services for trucks, tractors, trailers and other vehicles.