Ryder System (NYSE:R) Releases Q2 Earnings Guidance

Ryder System (NYSE:R) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.75-2.95 for the period, compared to the consensus estimate of $2.83. Ryder System also updated its FY 2024 guidance to 11.750-12.500 EPS.

Analyst Ratings Changes

R has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Ryder System from $120.00 to $126.00 and gave the stock a neutral rating in a research report on Wednesday. StockNews.com cut shares of Ryder System from a buy rating to a hold rating in a research report on Saturday, April 13th. Wells Fargo & Company lifted their price target on shares of Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a report on Thursday, February 15th. The Goldman Sachs Group lifted their price target on shares of Ryder System from $122.00 to $135.00 and gave the stock a buy rating in a report on Wednesday. Finally, Robert W. Baird reaffirmed a buy rating and issued a $140.00 price target on shares of Ryder System in a report on Wednesday, January 3rd. Seven investment 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, Ryder System has a consensus rating of Hold and a consensus target price of $123.71.

Ryder System Price Performance

Shares of NYSE R traded down $2.01 during mid-day trading on Wednesday, reaching $120.00. 118,341 shares of the company were exchanged, compared to its average volume of 258,015. Ryder System has a 52 week low of $76.15 and a 52 week 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 stock has a market capitalization of $5.31 billion, a PE ratio of 13.85 and a beta of 1.40. The company’s 50 day moving average price is $114.26 and its 200 day moving average price is $110.58.

Ryder System (NYSE:R) last posted its quarterly earnings data 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 company 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 firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.81 EPS. Sell-side analysts forecast that Ryder System will post 11.9 earnings per share for the current fiscal year.

Ryder System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s dividend payout ratio is presently 32.53%.

Insider Activity

In other news, CMO Karen M. Jones sold 7,737 shares of the company’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 completion of the transaction, the chief marketing officer now directly owns 12,396 shares of the company’s stock, valued at $1,406,698.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.