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

Ryder System (NYSE:R) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided EPS guidance of 11.900-12.400 for the period, compared to the consensus EPS estimate of 12.040. The company issued revenue guidance of $10.3 billion-$10.3 billion, compared to the consensus revenue estimate of $13.1 billion.

Analyst Ratings Changes

Several research firms have recently weighed in on R. Morgan Stanley started coverage on Ryder System in a research note on Monday, June 24th. They issued an overweight rating and a $165.00 price target for the company. Robert W. Baird upped their target price on shares of Ryder System from $140.00 to $155.00 and gave the company an outperform rating in a research note on Friday, July 26th. StockNews.com lowered shares of Ryder System from a strong-buy rating to a buy rating in a research note on Friday, July 12th. Stephens assumed coverage on shares of Ryder System in a report on Monday, July 8th. They set an equal weight rating for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ryder System from $126.00 to $125.00 and set a neutral rating on the stock in a report on Tuesday, July 9th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $137.86.

Ryder System Stock Down 5.2 %

Shares of R stock opened at $131.13 on Monday. The company has a 50 day simple moving average of $125.23 and a two-hundred day simple moving average of $119.94. The stock has a market cap of $5.68 billion, a P/E ratio of 17.07 and a beta of 1.29. Ryder System has a 12 month low of $91.31 and a 12 month high of $143.54. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.09.

Ryder System (NYSE:R) last released its earnings results on Thursday, July 25th. The transportation company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.13. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.24 billion. Ryder System had a return on equity of 17.22% and a net margin of 4.06%. Ryder System’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.61 earnings per share. On average, research analysts expect that Ryder System will post 12.19 earnings per share for the current year.

Ryder System Increases Dividend

The company also recently announced 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 boost from Ryder System’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.47%. Ryder System’s dividend payout ratio (DPR) is presently 36.98%.

Insider Buying and Selling at Ryder System

In other news, insider John S. Sensing sold 11,920 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $126.12, for a total transaction of $1,503,350.40. Following the sale, the insider now directly owns 55,375 shares in the company, valued at approximately $6,983,895. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John S. Sensing sold 11,920 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $126.12, for a total transaction of $1,503,350.40. Following the completion of the sale, the insider now owns 55,375 shares in the company, valued at $6,983,895. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert E. Sanchez sold 18,303 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $126.20, for a total value of $2,309,838.60. Following the completion of the transaction, the chief executive officer now directly owns 125,969 shares in the company, valued at $15,897,287.80. The disclosure for this sale can be found here. Insiders have sold 79,326 shares of company stock valued at $9,994,988 over the last 90 days. 5.10% of the stock is currently owned by corporate 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.