FY2018 Earnings Forecast for Ryder System, Inc. (R) Issued By KeyCorp
Ryder System, Inc. (NYSE:R) – Equities research analysts at KeyCorp increased their FY2018 earnings estimates for Ryder System in a research report issued to clients and investors on Wednesday. KeyCorp analyst T. Fowler now expects that the transportation company will earn $5.35 per share for the year, up from their prior forecast of $5.10. KeyCorp has a “Overweight” rating on the stock.
Several other equities research analysts have also issued reports on R. Zacks Investment Research upgraded shares of Ryder System from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. ValuEngine upgraded shares of Ryder System from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. BidaskClub upgraded shares of Ryder System from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Buckingham Research initiated coverage on shares of Ryder System in a research note on Monday, August 21st. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $68.00 price target on shares of Ryder System in a research note on Tuesday, September 5th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ryder System presently has a consensus rating of “Buy” and an average price target of $77.17.
Shares of Ryder System (NYSE R) opened at 79.46 on Friday. The firm’s 50-day moving average is $75.01 and its 200 day moving average is $72.21. Ryder System has a 52 week low of $62.03 and a 52 week high of $85.42. The firm has a market capitalization of $4.21 billion, a P/E ratio of 19.13 and a beta of 1.37.
Ryder System (NYSE:R) last announced its earnings results on Wednesday, July 26th. The transportation company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.07. Ryder System had a net margin of 3.17% and a return on equity of 11.71%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business earned $1.56 EPS. The company’s revenue was up 5.3% on a year-over-year basis.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its position in shares of Ryder System by 1,152.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 16,028 shares of the transportation company’s stock valued at $1,154,000 after acquiring an additional 14,748 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of Ryder System by 9.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 25,412 shares of the transportation company’s stock valued at $1,829,000 after acquiring an additional 2,204 shares during the period. Coldstream Capital Management Inc. grew its position in shares of Ryder System by 14.3% in the 2nd quarter. Coldstream Capital Management Inc. now owns 8,709 shares of the transportation company’s stock valued at $627,000 after acquiring an additional 1,088 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Ryder System by 24.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,298 shares of the transportation company’s stock valued at $6,284,000 after acquiring an additional 17,406 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Ryder System in the 2nd quarter valued at about $11,423,000. 89.54% of the stock is owned by institutional investors.
In other news, insider John S. Sensing sold 4,502 shares of Ryder System stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $73.01, for a total value of $328,691.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert E. Sanchez sold 26,275 shares of Ryder System stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $72.43, for a total transaction of $1,903,098.25. Following the completion of the transaction, the chief executive officer now directly owns 107,237 shares of the company’s stock, valued at approximately $7,767,175.91. The disclosure for this sale can be found here. In the last three months, insiders sold 40,427 shares of company stock valued at $2,933,827. Insiders own 1.95% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Monday, August 21st were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, August 17th. This is an increase from Ryder System’s previous quarterly dividend of $0.44. Ryder System’s dividend payout ratio (DPR) is 44.12%.
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 leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally 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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