Ryder System (NYSE:R) Releases FY24 Earnings Guidance

Ryder System (NYSE:R) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $11.90-12.10 for the period, compared to the consensus estimate of $12.13. Ryder System also updated its FY 2024 guidance to 11.900-12.100 EPS.

Analysts Set New Price Targets

Several research firms have recently issued reports on R. JPMorgan Chase & Co. reduced their target price on Ryder System from $148.00 to $144.00 and set a “neutral” rating on the stock in a report on Friday. Stephens began coverage on Ryder System in a report on Monday, July 8th. They set an “equal weight” rating on the stock. StockNews.com raised Ryder System from a “hold” rating to a “buy” rating in a report on Monday. Finally, Robert W. Baird increased their target price on Ryder System from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Ryder System presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.57.

Ryder System Stock Up 0.6 %

Ryder System stock traded up $0.90 during mid-day trading on Friday, reaching $139.76. The stock had a trading volume of 316,647 shares, compared to its average volume of 262,257. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.74 and a current ratio of 0.74. Ryder System has a fifty-two week low of $91.31 and a fifty-two week high of $154.76. The stock’s 50-day simple moving average is $142.90 and its 200-day simple moving average is $130.81. The firm has a market capitalization of $6.13 billion, a PE ratio of 18.23 and a beta of 1.28.

Ryder System (NYSE:R) last announced its earnings results on Thursday, October 24th. The transportation company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.39 by $0.05. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Ryder System had a return on equity of 17.22% and a net margin of 4.06%. Ryder System’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.58 earnings per share. On average, sell-side analysts forecast that Ryder System will post 12.2 EPS for the current fiscal year.

Ryder System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, November 18th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Monday, November 18th. Ryder System’s dividend payout ratio (DPR) is presently 42.19%.

Insider Activity

In other news, EVP Francisco Jr. Lopez sold 12,730 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $139.32, for a total value of $1,773,543.60. Following the completion of the transaction, the executive vice president now directly owns 47,779 shares in the company, valued at approximately $6,656,570.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.10% of the stock is owned by company 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.