Ryder System (NYSE:R) Releases Q2 Earnings Guidance

Ryder System (NYSE:R) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.75-2.95 for the period, compared to the consensus estimate of $2.83. Ryder System also updated its FY 2024 guidance to 11.750-12.500 EPS.

Analysts Set New Price Targets

Several brokerages have recently weighed in on R. Stephens upped their target price on Ryder System from $110.00 to $113.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. Wells Fargo & Company boosted their price target on Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a research note on Thursday, February 15th. The Goldman Sachs Group reiterated a buy rating and issued a $122.00 price target on shares of Ryder System in a research note on Thursday, February 15th. JPMorgan Chase & Co. boosted their price target on Ryder System from $117.00 to $120.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Finally, StockNews.com cut Ryder System from a buy rating to a hold rating in a research note on Saturday, April 13th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $120.00.

Ryder System Trading Up 3.9 %

Shares of NYSE R opened at $113.27 on Tuesday. The stock has a market capitalization of $5.01 billion, a P/E ratio of 12.49 and a beta of 1.40. The stock’s 50 day moving average price is $114.19 and its two-hundred day moving average price is $110.43. Ryder System has a 52-week low of $76.15 and a 52-week high of $121.58. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.80.

Ryder System (NYSE:R) last posted its earnings results on Wednesday, February 14th. The transportation company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.75 by $0.20. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.98 billion. Ryder System had a return on equity of 19.68% and a net margin of 3.45%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.89 earnings per share. On average, analysts anticipate that Ryder System will post 11.9 earnings per share for the current fiscal year.

Ryder System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s dividend payout ratio (DPR) is presently 32.53%.

Insider Activity

In related news, CMO Karen M. Jones sold 7,737 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total value of $877,994.76. Following the completion of the transaction, the chief marketing officer now directly owns 12,396 shares of the company’s stock, valued at approximately $1,406,698.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.10% of the company’s stock.

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.