Ryder System (NYSE:R) Releases FY24 Earnings Guidance

Ryder System (NYSE:R) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $11.90-12.40 for the period, compared to the consensus estimate of $12.04. The company issued revenue guidance of ~$12.73 billion, compared to the consensus revenue estimate of $13.17 billion. Ryder System also updated its Q3 guidance to $3.30-3.50 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Ryder System in a report on Monday, June 24th. They issued an overweight rating and a $165.00 target price for the company. Stephens started coverage on shares of Ryder System in a report on Monday, July 8th. They issued an equal weight rating for the company. StockNews.com lowered shares of Ryder System from a strong-buy rating to a buy rating in a report on Friday, July 12th. JPMorgan Chase & Co. decreased their price objective on shares of Ryder System from $126.00 to $125.00 and set a neutral rating for the company in a report on Tuesday, July 9th. Finally, Vertical Research upgraded shares of Ryder System from a hold rating to a buy rating and lifted their price objective for the company from $125.00 to $145.00 in a report on Friday, June 14th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $135.71.

Ryder System Stock Up 1.6 %

Shares of NYSE R traded up $2.12 during trading hours on Thursday, hitting $132.00. 445,112 shares of the stock were exchanged, compared to its average volume of 261,171. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.22. The company has a market cap of $5.79 billion, a PE ratio of 17.19 and a beta of 1.29. The firm has a fifty day moving average price of $123.69 and a 200-day moving average price of $118.77. Ryder System has a 12 month low of $91.31 and a 12 month high of $136.41.

Ryder System (NYSE:R) last posted its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.71 by $0.43. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $2.81 EPS. On average, sell-side analysts expect that Ryder System will post 12.17 EPS for the current year.

Ryder System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Monday, August 19th will be paid a dividend of $0.81 per share. This is a positive change from Ryder System’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.45%. Ryder System’s dividend payout ratio is presently 36.98%.

Insider Buying and Selling at Ryder System

In other Ryder System news, SVP Sanford J. Hodes sold 3,360 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $125.59, for a total transaction of $421,982.40. Following the transaction, the senior vice president now owns 24,119 shares in the company, valued at approximately $3,029,105.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ryder System news, SVP Sanford J. Hodes sold 3,360 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $125.59, for a total transaction of $421,982.40. Following the transaction, the senior vice president now owns 24,119 shares in the company, valued at approximately $3,029,105.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Karen M. Jones sold 6,776 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $120.44, for a total transaction of $816,101.44. Following the transaction, the chief marketing officer now owns 5,666 shares in the company, valued at approximately $682,413.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,129 shares of company stock worth $10,598,226. 5.10% of the stock is owned by corporate insiders.

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.