Ryder System (NYSE:R) Issues FY 2024 Earnings Guidance

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

Wall Street Analyst Weigh In

Several research firms have weighed in on R. The Goldman Sachs Group increased their price target on shares of Ryder System from $122.00 to $135.00 and gave the stock a buy rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on Ryder System from $100.00 to $120.00 and gave the company an equal weight rating in a research report on Thursday, February 15th. Robert W. Baird reissued a buy rating and issued a $140.00 target price on shares of Ryder System in a report on Wednesday, January 3rd. StockNews.com raised shares of Ryder System from a hold rating to a buy rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ryder System from $120.00 to $126.00 and gave the company a neutral rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ryder System presently has a consensus rating of Hold and an average target price of $123.71.

Ryder System Trading Up 0.4 %

NYSE R traded up $0.45 on Friday, hitting $122.88. 8,517 shares of the stock were exchanged, compared to its average volume of 262,791. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.62 and a current ratio of 0.82. Ryder System has a 52-week low of $76.15 and a 52-week high of $123.45. The firm has a market capitalization of $5.39 billion, a P/E ratio of 15.94 and a beta of 1.40. The stock has a fifty day moving average price of $114.74 and a two-hundred day moving average price of $110.74.

Ryder System (NYSE:R) last released its earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.43. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.06 billion. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $2.81 earnings per share. Research analysts forecast that Ryder System will post 11.9 EPS for the current fiscal year.

Ryder System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were paid a $0.71 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.84 annualized dividend and a yield of 2.31%. Ryder System’s dividend payout ratio (DPR) is currently 36.98%.

Insider Buying and Selling at Ryder System

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