Ryder System (NYSE:R) Issues FY24 Earnings Guidance

Ryder System (NYSE:R) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $11.75-12.50 for the period, compared to the consensus estimate of $11.69. Ryder System also updated its FY 2024 guidance to 11.750-12.500 EPS.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. StockNews.com cut shares of Ryder System from a buy rating to a hold rating in a report on Saturday, April 13th. The Goldman Sachs Group restated a buy rating and issued a $122.00 price target on shares of Ryder System in a report on Thursday, February 15th. Vertical Research cut shares of Ryder System from a buy rating to a hold rating and set a $120.00 price target for the company. in a report on Wednesday, January 10th. Stephens raised their price target 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, Wells Fargo & Company raised their price objective on shares of Ryder System from $100.00 to $120.00 and gave the company an equal weight rating in a research note on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $120.00.

Ryder System Stock Up 3.9 %

Ryder System stock opened at $113.27 on Tuesday. Ryder System has a fifty-two week low of $76.15 and a fifty-two week high of $121.58. The stock has a market cap of $5.01 billion, a PE ratio of 12.49 and a beta of 1.40. The firm’s 50-day simple moving average is $114.19 and its 200 day simple moving average is $110.43. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.62 and a current ratio of 0.62.

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

Ryder System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s dividend payout ratio (DPR) is presently 32.53%.

Insider Buying and Selling

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total value of $877,994.76. Following the transaction, the chief marketing officer now directly owns 12,396 shares in the company, valued at $1,406,698.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.10% of the stock is owned by corporate 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.