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

Ryder System (NYSE:R) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided earnings per share (EPS) guidance of 11.900-12.400 for the period, compared to the consensus 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.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on R shares. Morgan Stanley assumed coverage on shares of Ryder System in a research report on Monday, June 24th. They issued an overweight rating and a $165.00 price target for the company. JPMorgan Chase & Co. cut their price target on Ryder System from $126.00 to $125.00 and set a neutral rating on the stock in a research report on Tuesday, July 9th. Vertical Research raised Ryder System from a hold rating to a buy rating and increased their price objective for the company from $125.00 to $145.00 in a report on Friday, June 14th. Stephens began coverage on shares of Ryder System in a report on Monday, July 8th. They issued an equal weight rating on the stock. Finally, Robert W. Baird raised their price objective on shares of Ryder System from $140.00 to $155.00 and gave the stock an outperform rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $137.86.

Ryder System Trading Down 5.2 %

NYSE R opened at $131.13 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $5.68 billion, a P/E ratio of 17.07 and a beta of 1.29. Ryder System has a 52-week low of $91.31 and a 52-week high of $143.54. The firm has a 50-day moving average price of $125.23 and a 200 day moving average price of $119.94.

Ryder System (NYSE:R) last issued its earnings results on Thursday, July 25th. The transportation company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.13. Ryder System had a return on equity of 17.22% and a net margin of 4.06%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the business posted $3.61 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts expect that Ryder System will post 12.19 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. Stockholders of record on Monday, August 19th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, August 19th. This is a boost from Ryder System’s previous quarterly dividend of $0.71. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.47%. Ryder System’s dividend payout ratio is 36.98%.

Insider Activity

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