Ryder System (NYSE:R) Issues Q2 Earnings Guidance

Ryder System (NYSE:R) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $2.75-2.95 for the period, compared to the consensus EPS estimate of $2.83. Ryder System also updated its FY 2024 guidance to 11.750-12.500 EPS.

Ryder System Price Performance

Shares of NYSE:R opened at $109.00 on Tuesday. The firm has a market capitalization of $4.82 billion, a PE ratio of 12.49 and a beta of 1.40. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.80. Ryder System has a 1-year low of $76.15 and a 1-year high of $121.58. The business’s 50 day moving average is $114.19 and its 200-day moving average is $110.43.

Ryder System (NYSE:R) last announced its quarterly 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 firm had revenue of $3.02 billion for 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 business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.89 EPS. Sell-side analysts predict that Ryder System will post 11.9 earnings per share for the current year.

Ryder System Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on R shares. The Goldman Sachs Group reaffirmed a buy rating and issued a $122.00 price target on shares of Ryder System in a research note on Thursday, February 15th. JPMorgan Chase & Co. boosted their target price on shares of Ryder System from $117.00 to $120.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Robert W. Baird reiterated a buy rating and set a $140.00 target price on shares of Ryder System in a research report on Wednesday, January 3rd. StockNews.com downgraded shares of Ryder System from a buy rating to a hold rating in a report on Saturday, April 13th. Finally, Stephens upped their price objective on shares of Ryder System from $110.00 to $113.00 and gave the stock an equal weight rating in a research note on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $120.00.

Insider Buying and Selling

In other news, CMO Karen M. Jones sold 7,737 shares of the company’s stock in a transaction 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 transaction, the chief marketing officer now owns 12,396 shares of the company’s stock, valued at $1,406,698.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.10% of the stock is currently 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.