Ryder System Inc. (R) Stock Rating Lowered by Zacks Investment Research
Ryder System Inc. (NYSE:R) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
According to Zacks, “We expect Ryder System to struggle in the third quarter.Detailed results are scheduled to be revealed on Oct 25. The company's lackluster third quarter guidance, provided earlier, is disappointing. The Zacks Consensus Estimate for the third quarter has gone down by 9 cents to $1.65 per share over the last three months. The company also trimmed its earnings guidance for full-year 2016. Ryder now expects 2016 adjusted earnings in the band of $5.90 to $6.05 per share (old guidance: $6.10 to $6.30). Lower rental demand coupled with soft used vehicle volumes led to the dull view. Another concern is that bulk of revenues comes from Fleet Management Solutions division. We are however encouraged by Ryder's efforts to reward its shareholders. In Jul 2016, the company hiked its quarterly cash dividend by 7.3% to $0.44 per share. We also remain positive on the growth potential of the company's Dedicated Transportation Solutions business.”
A number of other research analysts also recently issued reports on the stock. Robert W. Baird restated a “buy” rating on shares of Ryder System in a research report on Monday, June 13th. Royal Bank Of Canada restated a “hold” rating on shares of Ryder System in a research report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $81.38.
Shares of Ryder System (NYSE:R) opened at 65.95 on Thursday. Ryder System has a 12 month low of $45.12 and a 12 month high of $76.33. The stock’s 50 day moving average is $65.28 and its 200 day moving average is $65.71. The company has a market cap of $3.53 billion, a P/E ratio of 11.91 and a beta of 1.73.
Ryder System (NYSE:R) last posted its earnings results on Wednesday, July 27th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.54 by $0.02. Ryder System had a net margin of 4.44% and a return on equity of 16.21%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company earned $1.65 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, analysts anticipate that Ryder System will post $5.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Monday, August 22nd were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, August 18th. This is a positive change from Ryder System’s previous quarterly dividend of $0.41. Ryder System’s payout ratio is 31.71%.
A number of hedge funds have recently made changes to their positions in R. Kentucky Retirement Systems acquired a new stake in shares of Ryder System during the second quarter worth approximately $279,000. Mason Street Advisors LLC acquired a new stake in shares of Ryder System during the second quarter worth approximately $442,000. Wolverine Asset Management LLC acquired a new stake in shares of Ryder System during the second quarter worth approximately $2,086,000. IFP Advisors Inc raised its stake in shares of Ryder System by 14.2% in the second quarter. IFP Advisors Inc now owns 4,645 shares of the company’s stock worth $284,000 after buying an additional 576 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Ryder System by 1.6% in the second quarter. Public Employees Retirement System of Ohio now owns 21,173 shares of the company’s stock worth $1,295,000 after buying an additional 339 shares during the period. Institutional investors and hedge funds own 90.95% of the company’s stock.
Ryder System Company Profile
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides full service leasing, commercial rental, contract maintenance and contract-related maintenance of trucks, tractors and trailers to customers in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
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