Ryder System (NYSE:R) Updates FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

R has been the subject of a number of recent analyst reports. Vertical Research cut shares of Ryder System from a buy rating to a hold rating and set a $120.00 target price for the company. in a research report on Wednesday, January 10th. Robert W. Baird reiterated a buy rating and set a $140.00 price objective on shares of Ryder System in a research note on Wednesday, January 3rd. Wells Fargo & Company lifted their price target on shares of Ryder System from $100.00 to $120.00 and gave the company an equal weight rating in a research report on Thursday, February 15th. StockNews.com lowered Ryder System from a buy rating to a hold rating in a research note on Saturday, April 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Ryder System from $120.00 to $126.00 and gave the stock a neutral rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $123.71.

Ryder System Trading Down 1.6 %

Shares of NYSE:R traded down $2.01 during trading on Wednesday, reaching $120.00. The stock had a trading volume of 118,341 shares, compared to its average volume of 258,015. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 13.85 and a beta of 1.40. Ryder System has a 52 week low of $76.15 and a 52 week high of $122.94. The firm’s fifty day moving average is $114.26 and its 200 day moving average is $110.58. 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 issued its earnings results on Tuesday, April 23rd. The transportation company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.71 by $0.43. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.06 billion. Ryder System had a net margin of 3.45% and a return on equity of 19.68%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.81 earnings per share. As a group, equities analysts forecast that Ryder System will post 11.9 EPS for the current fiscal year.

Ryder System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.84 dividend on an annualized basis and a yield of 2.37%. Ryder System’s payout ratio is 32.53%.

Insiders Place Their Bets

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total transaction of $877,994.76. Following the completion of the sale, the chief marketing officer now directly owns 12,396 shares in the company, valued at approximately $1,406,698.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate 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.