KeyCorp Weighs in on Ryder System Inc.’s Q3 2016 Earnings (R)
Ryder System Inc. (NYSE:R) – Analysts at KeyCorp cut their Q3 2016 earnings estimates for Ryder System in a note issued to investors on Thursday. KeyCorp analyst T. Fowler now expects that the brokerage will post earnings of $1.65 per share for the quarter, down from their previous forecast of $1.70. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Ryder System’s Q4 2016 earnings at $1.57 EPS, FY2016 earnings at $5.90 EPS and FY2017 earnings at $6.05 EPS.
A number of other analysts have also issued reports on the company. Credit Agricole SA started coverage on Ryder System in a research report on Friday, September 30th. They issued a “buy” rating and a $80.00 target price on the stock. Zacks Investment Research lowered Ryder System from a “hold” rating to a “sell” rating in a research report on Friday, August 19th. Robert W. Baird reaffirmed a “buy” rating on shares of Ryder System in a research report on Monday, June 13th. Finally, Royal Bank Of Canada reaffirmed 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, three have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $81.38.
Ryder System (NYSE:R) opened at 66.48 on Monday. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 12.00 and a beta of 1.63. Ryder System has a 52 week low of $45.12 and a 52 week high of $76.08. The company has a 50-day moving average price of $65.46 and a 200-day moving average price of $65.81.
Ryder System (NYSE:R) last issued its earnings results on Wednesday, July 27th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.02. The company earned $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. Ryder System had a return on equity of 16.21% and a net margin of 4.44%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $1.65 EPS.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Monday, November 21st will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.65%. Ryder System’s payout ratio is currently 31.71%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC bought a new position in Ryder System during the second quarter valued at about $93,320,000. Fiduciary Management Inc. WI increased its position in Ryder System by 55.2% in the first quarter. Fiduciary Management Inc. WI now owns 1,142,910 shares of the company’s stock valued at $74,038,000 after buying an additional 406,634 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Ryder System during the second quarter valued at about $21,089,000. Wellington Management Group LLP bought a new position in Ryder System during the first quarter valued at about $22,300,000. Finally, Bank of New York Mellon Corp increased its position in Ryder System by 39.5% in the second quarter. Bank of New York Mellon Corp now owns 817,427 shares of the company’s stock valued at $49,977,000 after buying an additional 231,300 shares in the last quarter. Institutional investors own 90.95% of the company’s stock.
About Ryder System
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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