Ryder System (NYSE:R – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $11.90-12.40 for the period, compared to the consensus EPS estimate of $12.04. The company issued revenue guidance of ~$12.73 billion, compared to the consensus revenue estimate of $13.17 billion. Ryder System also updated its Q3 guidance to $3.30-3.50 EPS.
Ryder System Stock Up 1.6 %
NYSE R traded up $2.12 on Thursday, reaching $132.00. The company had a trading volume of 445,112 shares, compared to its average volume of 261,171. The firm has a market capitalization of $5.79 billion, a PE ratio of 17.19 and a beta of 1.29. Ryder System has a 1 year low of $91.31 and a 1 year high of $136.41. The firm has a 50-day moving average of $123.69 and a 200-day moving average of $118.77. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.82 and a quick ratio of 0.82.
Ryder System (NYSE:R – Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share 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 analysts’ expectations of $3.06 billion. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. Ryder System’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.81 EPS. On average, equities research analysts anticipate that Ryder System will post 12.17 EPS for the current fiscal year.
Ryder System Increases Dividend
Wall Street Analyst Weigh In
Several equities analysts have recently commented on R shares. Stephens started coverage on Ryder System in a research note on Monday, July 8th. They set an equal weight rating for the company. Vertical Research upgraded Ryder System from a hold rating to a buy rating and increased their target price for the company from $125.00 to $145.00 in a research note on Friday, June 14th. Morgan Stanley started coverage on Ryder System in a research note on Monday, June 24th. They set an overweight rating and a $165.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Ryder System from $126.00 to $125.00 and set a neutral rating for the company in a research note on Tuesday, July 9th. Finally, The Goldman Sachs Group increased their target price on Ryder System from $122.00 to $135.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Ryder System presently has an average rating of Moderate Buy and a consensus target price of $135.71.
Check Out Our Latest Analysis on Ryder System
Insider Buying and Selling
In related news, CEO Robert E. Sanchez sold 18,303 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $126.20, for a total transaction of $2,309,838.60. Following the transaction, the chief executive officer now directly owns 125,969 shares in the company, valued at $15,897,287.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ryder System news, CEO Robert E. Sanchez sold 18,303 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $126.20, for a total value of $2,309,838.60. Following the sale, the chief executive officer now directly owns 125,969 shares of the company’s stock, valued at $15,897,287.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Sanford J. Hodes sold 3,360 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.59, for a total value of $421,982.40. Following the completion of the sale, the senior vice president now directly owns 24,119 shares in the company, valued at $3,029,105.21. The disclosure for this sale can be found here. Insiders have sold 84,129 shares of company stock worth $10,598,226 over the last ninety days. 5.10% of the stock is owned by 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.
Read More
- Five stocks we like better than Ryder System
- Stock Splits, Do They Really Impact Investors?
- Viking Therapeutics: Pharma Stock Soars on Positive Earnings
- How to Calculate Stock Profit
- Top 3 Small Cap Stocks Emerging as Rotation Winners
- How to Choose Top Rated Stocks
- Bargain Alert: 3 Stocks Worth Watching While The Market Cools
Receive News & Ratings for Ryder System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ryder System and related companies with MarketBeat.com's FREE daily email newsletter.