Ryder System (NYSE:R) Releases Q2 Earnings Guidance

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

Ryder System Stock Up 0.3 %

Ryder System stock opened at $109.00 on Tuesday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 12.49 and a beta of 1.40. Ryder System has a 52-week low of $76.15 and a 52-week high of $121.58. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a 50 day moving average price of $114.19 and a two-hundred day moving average price of $110.43.

Ryder System (NYSE:R) last announced its earnings results on Wednesday, February 14th. The transportation company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.20. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.98 billion. Ryder System had a net margin of 3.45% and a return on equity of 19.68%. Ryder System’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.89 earnings per share. Equities analysts predict that Ryder System will post 11.9 EPS for the current year.

Ryder System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s dividend payout ratio is 32.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Ryder System from a buy rating to a hold rating in a report on Saturday, April 13th. Vertical Research lowered shares of Ryder System from a buy rating to a hold rating and set a $120.00 target price on the stock. in a research note on Wednesday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Ryder System from $117.00 to $120.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Wells Fargo & Company increased their price objective on shares of Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. Finally, Stephens boosted their target price on Ryder System from $110.00 to $113.00 and gave the company an equal weight rating in a research report on Thursday, February 15th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Ryder System presently has an average rating of Hold and an average target price of $120.00.

Insider Activity

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total transaction of $877,994.76. Following the completion of the sale, 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 the SEC website. Corporate insiders own 5.10% of the company’s stock.

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.