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.

Ryder System Stock Performance

Shares of NYSE R opened at $109.00 on Tuesday. The firm has a 50 day moving average of $114.19 and a 200 day moving average of $110.43. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 12.49 and a beta of 1.40. Ryder System has a 12-month low of $76.15 and a 12-month high of $121.58.

Ryder System (NYSE:R) last announced its earnings results on Wednesday, February 14th. The transportation company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.20. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.98 billion. Ryder System had a net margin of 3.45% and a return on equity of 19.68%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.89 earnings per share. On average, research analysts anticipate that Ryder System will post 11.9 earnings per share for the current year.

Ryder System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were given a $0.71 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.61%. Ryder System’s payout ratio is currently 32.53%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on R shares. JPMorgan Chase & Co. upped their price target on shares of Ryder System from $117.00 to $120.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Wells Fargo & Company upped their price target on shares of Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. Robert W. Baird reiterated a buy rating and issued a $140.00 price target on shares of Ryder System in a research report on Wednesday, January 3rd. Stephens boosted their target price on shares of Ryder System from $110.00 to $113.00 and gave the stock an equal weight rating in a report on Thursday, February 15th. Finally, StockNews.com downgraded shares of Ryder System from a buy rating to a hold rating in a report on Saturday, April 13th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Ryder System has a consensus rating of Hold and an average target price of $120.00.

Insider Transactions at Ryder System

In related news, CMO Karen M. Jones sold 7,737 shares of the company’s stock in a transaction 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 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 legal filing with the SEC, which is available through the SEC website. Insiders own 5.10% of the company’s stock.

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.