Ryder System (NYSE:R) Releases FY 2024 Earnings Guidance

Ryder System (NYSE:R) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 11.750-12.500 for the period, compared to the consensus earnings per share estimate of 11.690. The company issued revenue guidance of $10.4 billion-$10.4 billion, compared to the consensus revenue estimate of $13.1 billion. Ryder System also updated its FY24 guidance to $11.75-12.50 EPS.

Ryder System Stock Up 0.4 %

NYSE:R traded up $0.45 during trading hours on Friday, reaching $122.88. 8,517 shares of the stock were exchanged, compared to its average volume of 262,791. Ryder System has a twelve month low of $76.15 and a twelve month high of $123.45. The firm has a 50 day moving average of $114.74 and a 200 day moving average of $110.74. The stock has a market cap of $5.39 billion, a PE ratio of 15.94 and a beta of 1.40. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.82 and a quick ratio of 0.62.

Ryder System (NYSE:R) last issued its earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.43. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.06 billion. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. Ryder System’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $2.81 EPS. On average, equities analysts expect that Ryder System will post 11.9 earnings per share for the current year.

Ryder System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors 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 2.31%. The ex-dividend date was Friday, February 16th. Ryder System’s dividend payout ratio (DPR) is presently 36.98%.

Wall Street Analysts Forecast Growth

R has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Ryder System from $120.00 to $126.00 and gave the company a neutral rating in a report on Wednesday. Stephens upped their price objective on Ryder System from $113.00 to $120.00 and gave the stock an equal weight rating in a report on Wednesday. StockNews.com upgraded Ryder System from a hold rating to a buy rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a research note on Thursday, February 15th. Finally, Robert W. Baird reaffirmed a buy rating and set a $140.00 price objective on shares of Ryder System in a research note on Wednesday, January 3rd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Ryder System currently has an average rating of Hold and an average target price of $123.71.

Insiders Place Their Bets

In other news, CMO Karen M. Jones sold 7,737 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total transaction of $877,994.76. Following the sale, the chief marketing officer now owns 12,396 shares in the company, valued at approximately $1,406,698.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 5.10% of the stock is currently owned by company insiders.

Ryder System Company Profile

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.