Ryder System (NYSE:R) Sets New 12-Month Low Following Weak Earnings

Ryder System, Inc. (NYSE:R) hit a new 52-week low on Thursday following a dissappointing earnings announcement. The company traded as low as $44.76 and last traded at $47.52, with a volume of 487674 shares traded. The stock had previously closed at $50.19.

The transportation company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.04). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.26 billion. Ryder System had a net margin of 1.55% and a return on equity of 11.65%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, February 18th will be given a $0.56 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.24 annualized dividend and a yield of 5.58%. Ryder System’s dividend payout ratio (DPR) is 38.69%.

Ryder System announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to buyback 1,500,000 outstanding shares. This buyback authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

A number of equities analysts recently weighed in on R shares. Stephens decreased their price target on Ryder System from $50.00 to $47.00 and set an “equal weight” rating for the company in a research report on Friday. JPMorgan Chase & Co. dropped their price target on Ryder System from $49.00 to $42.00 and set an “underweight” rating on the stock in a research note on Friday. Loop Capital upgraded Ryder System from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, January 13th. ValuEngine lowered shares of Ryder System from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, SunTrust Banks decreased their target price on shares of Ryder System from $65.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $56.43.

Several institutional investors have recently modified their holdings of R. BlackRock Inc. grew its position in Ryder System by 7.1% during the second quarter. BlackRock Inc. now owns 6,643,848 shares of the transportation company’s stock valued at $387,337,000 after purchasing an additional 440,942 shares in the last quarter. Pzena Investment Management LLC lifted its position in Ryder System by 22.9% in the 4th quarter. Pzena Investment Management LLC now owns 3,265,330 shares of the transportation company’s stock worth $177,340,000 after buying an additional 608,085 shares in the last quarter. State Street Corp lifted its position in Ryder System by 0.9% in the 4th quarter. State Street Corp now owns 1,631,885 shares of the transportation company’s stock worth $88,628,000 after buying an additional 14,204 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Ryder System by 17.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,469,485 shares of the transportation company’s stock valued at $79,807,000 after buying an additional 222,596 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Ryder System by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 903,704 shares of the transportation company’s stock valued at $49,080,000 after buying an additional 46,343 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

The firm’s fifty day moving average price is $51.96 and its 200 day moving average price is $51.40. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 2.75. The firm has a market capitalization of $2.14 billion, a PE ratio of 15.43 and a beta of 1.84.

Ryder System Company Profile (NYSE:R)

Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as fleet support services.

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