Ryder System (NYSE:R) Releases FY24 Earnings Guidance

Ryder System (NYSE:R) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $11.75-12.50 for the period, compared to the consensus EPS estimate of $11.69. Ryder System also updated its FY 2024 guidance to 11.750-12.500 EPS.

Ryder System Stock Down 1.6 %

NYSE:R traded down $2.01 during trading hours on Wednesday, hitting $120.00. The company’s stock had a trading volume of 118,341 shares, compared to its average volume of 258,015. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.80. Ryder System has a 52-week low of $76.15 and a 52-week high of $122.94. The stock has a fifty day moving average of $114.26 and a 200-day moving average of $110.58. The stock has a market capitalization of $5.31 billion, a P/E ratio of 13.85 and a beta of 1.40.

Ryder System (NYSE:R) last posted its earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.43. Ryder System had a net margin of 3.45% and a return on equity of 19.68%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the business posted $2.81 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast 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. Shareholders of record on Tuesday, February 20th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s dividend payout ratio (DPR) is presently 32.53%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on R shares. Vertical Research cut shares of Ryder System from a buy rating to a hold rating and set a $120.00 target price for the company. in a report on Wednesday, January 10th. Wells Fargo & Company lifted their target price 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. The Goldman Sachs Group lifted their price objective on shares of Ryder System from $122.00 to $135.00 and gave the company a buy rating in a research note on Wednesday. Robert W. Baird reaffirmed a buy rating and set a $140.00 price objective on shares of Ryder System in a report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Ryder System from $120.00 to $126.00 and gave the company a neutral rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Ryder System presently has an average rating of Hold and a consensus price target of $123.71.

Insider Activity at Ryder System

In other news, CMO Karen M. Jones sold 7,737 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total transaction of $877,994.76. Following the transaction, the chief marketing officer now directly owns 12,396 shares in the company, valued at approximately $1,406,698.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.10% of the stock is 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.