Ryder System (NYSE:R) Issues FY24 Earnings Guidance

Ryder System (NYSE:R) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on R shares. The Goldman Sachs Group reaffirmed a buy rating and set a $122.00 target price on shares of Ryder System in a report on Thursday, February 15th. Vertical Research lowered shares of Ryder System from a buy rating to a hold rating and set a $120.00 price objective for the company. in a research note on Wednesday, January 10th. JPMorgan Chase & Co. lifted their target price on shares of Ryder System from $117.00 to $120.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Robert W. Baird restated a buy rating and set a $140.00 price target on shares of Ryder System in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company raised 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 note on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $120.00.

Ryder System Price Performance

Shares of R opened at $109.00 on Tuesday. The business’s 50-day moving average is $114.19 and its 200-day moving average is $110.43. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 12.49 and a beta of 1.40. Ryder System has a fifty-two week low of $76.15 and a fifty-two week high of $121.58.

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

Ryder System Announces Dividend

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

Insider Activity at Ryder System

In related 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 value of $877,994.76. Following the completion of the sale, the chief marketing officer now owns 12,396 shares of the company’s stock, valued at approximately $1,406,698.08. The sale was disclosed in a document filed with the SEC, which is available at 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.