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

Ryder System (NYSE:R) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 11.750-12.500 for the period, compared to the consensus EPS estimate of 11.690. The company issued revenue guidance of $10.4 billion-$10.4 billion, compared to the consensus revenue estimate of $13.1 billion. Ryder System also updated its FY24 guidance to $11.75-12.50 EPS.

Analysts Set New Price Targets

R has been the subject of several recent research reports. Robert W. Baird restated a buy rating and issued a $140.00 price target on shares of Ryder System in a report on Wednesday, January 3rd. StockNews.com lowered shares of Ryder System from a buy rating to a hold rating in a research report on Saturday, April 13th. Wells Fargo & Company increased their price objective on shares of Ryder System from $100.00 to $120.00 and gave the company an equal weight rating in a report on Thursday, February 15th. Stephens lifted their target price on shares of Ryder System from $113.00 to $120.00 and gave the stock an equal weight rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price target on shares of Ryder System from $122.00 to $135.00 and gave the company a buy rating in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $123.71.

Ryder System Trading Down 2.2 %

Shares of R stock traded down $2.63 during trading hours on Wednesday, hitting $119.38. 136,447 shares of the company were exchanged, compared to its average volume of 258,314. The firm has a market cap of $5.28 billion, a PE ratio of 13.85 and a beta of 1.40. Ryder System has a 1 year low of $76.15 and a 1 year high of $122.94. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.80. The firm has a fifty day moving average of $114.26 and a 200 day moving average of $110.58.

Ryder System (NYSE:R) last posted its earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.43. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.06 billion. Ryder System had a net margin of 3.45% and a return on equity of 19.68%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.81 EPS. Analysts expect that Ryder System will post 11.9 earnings per share for the current year.

Ryder System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.38%. The ex-dividend date was Friday, February 16th. Ryder System’s dividend payout ratio (DPR) is 32.53%.

Insider Buying and Selling at Ryder System

In other news, CMO Karen M. Jones sold 7,737 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were 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 owns 12,396 shares of the company’s stock, valued at $1,406,698.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.10% of the stock is 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.