Ryder System (NYSE:R) Updates Q3 2024 Earnings Guidance

Ryder System (NYSE:R) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 3.300-3.500 for the period, compared to the consensus earnings per share estimate of 3.390. The company issued revenue guidance of -. Ryder System also updated its FY24 guidance to $11.90-12.40 EPS.

Ryder System Price Performance

Shares of R opened at $132.17 on Friday. Ryder System has a 52-week low of $91.31 and a 52-week high of $136.41. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.82 and a current ratio of 1.13. The business’s 50 day moving average price is $123.82 and its two-hundred day moving average price is $118.95. The firm has a market cap of $5.79 billion, a PE ratio of 17.21 and a beta of 1.29.

Ryder System (NYSE:R) last released its quarterly earnings data on Thursday, July 25th. The transportation company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.87 by $0.13. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.24 billion. Ryder System had a return on equity of 17.22% and a net margin of 4.06%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.61 earnings per share. On average, equities analysts anticipate that Ryder System will post 12.4 EPS for the current year.

Ryder System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Monday, August 19th will be issued a dividend of $0.81 per share. This is an increase from Ryder System’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.45%. Ryder System’s payout ratio is currently 36.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on R shares. Robert W. Baird boosted their price objective on Ryder System from $140.00 to $155.00 and gave the company an outperform rating in a report on Friday. JPMorgan Chase & Co. decreased their price target on Ryder System from $126.00 to $125.00 and set a neutral rating for the company in a report on Tuesday, July 9th. Stephens began coverage on Ryder System in a report on Monday, July 8th. They set an equal weight rating for the company. Morgan Stanley began coverage on Ryder System in a report on Monday, June 24th. They set an overweight rating and a $165.00 price target for the company. Finally, StockNews.com downgraded Ryder System from a strong-buy rating to a buy rating in a report on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $137.86.

Insider Buying and Selling at Ryder System

In other Ryder System news, CEO Robert E. Sanchez sold 18,303 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 125,969 shares in the company, valued at approximately $15,897,287.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Karen M. Jones sold 6,776 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $120.44, for a total transaction of $816,101.44. Following the transaction, the chief marketing officer now owns 5,666 shares of the company’s stock, valued at approximately $682,413.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert E. Sanchez sold 18,303 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $126.20, for a total value of $2,309,838.60. Following the transaction, the chief executive officer now directly owns 125,969 shares in the company, valued at approximately $15,897,287.80. The disclosure for this sale can be found here. Insiders sold 84,129 shares of company stock worth $10,598,226 in the last quarter. 5.10% of the stock is currently owned by company insiders.

Ryder System Company Profile

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.