Ryder System (NYSE:R) Releases FY24 Earnings Guidance

Ryder System (NYSE:R) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $11.90-12.10 for the period, compared to the consensus EPS estimate of $12.13. Ryder System also updated its FY 2024 guidance to 11.900-12.100 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on R shares. Robert W. Baird boosted their target price on shares of Ryder System from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, July 26th. StockNews.com upgraded Ryder System from a “hold” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. reduced their target price 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. Finally, Stephens initiated coverage on Ryder System in a report on Monday, July 8th. They set an “equal weight” rating for the company. Three 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Ryder System Trading Down 4.2 %

Shares of R stock traded down $6.14 on Thursday, hitting $138.89. The stock had a trading volume of 496,528 shares, compared to its average volume of 261,988. The company’s 50 day moving average price is $142.87 and its 200-day moving average price is $130.76. Ryder System has a 1 year low of $91.31 and a 1 year high of $154.76. The firm has a market capitalization of $6.01 billion, a P/E ratio of 12.72 and a beta of 1.28. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.74 and a quick ratio of 0.74.

Ryder System (NYSE:R) last issued its quarterly earnings results on Thursday, July 25th. The transportation company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.13. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.61 earnings per share. Analysts anticipate that Ryder System will post 12.2 earnings per share for the current year.

Ryder System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.81 per share. The ex-dividend date is Monday, November 18th. This represents a $3.24 dividend on an annualized basis and a yield of 2.33%. Ryder System’s dividend payout ratio (DPR) is presently 29.67%.

Insiders Place Their Bets

In other Ryder System news, EVP Francisco Jr. Lopez sold 12,730 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $139.32, for a total transaction of $1,773,543.60. Following the sale, the executive vice president now owns 47,779 shares in the company, valued at $6,656,570.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.10% of the company’s stock.

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.