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

Ryder System (NYSE:R) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 11.750-12.500 for the period, compared to the consensus earnings per share estimate of 11.930. The company issued revenue guidance of $10.4 billion-$10.4 billion, compared to the consensus revenue estimate of $13.1 billion.

Analysts Set New Price Targets

A number of research firms recently issued reports on R. JPMorgan Chase & Co. lifted their target price on Ryder System from $120.00 to $126.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. The Goldman Sachs Group lifted their target price on Ryder System from $122.00 to $135.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Stephens increased their price target on Ryder System from $113.00 to $120.00 and gave the company an equal weight rating in a research report on Wednesday, April 24th. Vertical Research upgraded Ryder System from a hold rating to a buy rating and increased their price target for the company from $125.00 to $145.00 in a research report on Friday. Finally, StockNews.com upgraded Ryder System from a hold rating to a buy rating in a research report on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $131.00.

Ryder System Stock Down 1.1 %

Shares of Ryder System stock opened at $118.92 on Friday. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 15.48 and a beta of 1.32. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.82 and a quick ratio of 0.82. Ryder System has a 52-week low of $80.90 and a 52-week high of $128.85. The stock has a 50-day simple moving average of $120.70 and a 200-day simple moving average of $116.01.

Ryder System (NYSE:R) last issued its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.43. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the business earned $2.81 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that Ryder System will post 12.1 earnings per share for the current fiscal year.

Ryder System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, May 20th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Friday, May 17th. Ryder System’s dividend payout ratio is currently 36.98%.

Insiders Place Their Bets

In other Ryder System news, insider Thomas M. Havens sold 8,000 shares of Ryder System stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $119.40, for a total value of $955,200.00. Following the transaction, the insider now directly owns 24,401 shares of the company’s stock, valued at approximately $2,913,479.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director E Follin Smith sold 3,671 shares of Ryder System stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $119.16, for a total transaction of $437,436.36. Following the sale, the director now owns 38,413 shares of the company’s stock, valued at approximately $4,577,293.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas M. Havens sold 8,000 shares of Ryder System stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $119.40, for a total value of $955,200.00. Following the sale, the insider now directly owns 24,401 shares in the company, valued at approximately $2,913,479.40. The disclosure for this sale can be found here. Insiders have sold a total of 95,800 shares of company stock valued at $11,990,862 in the last three months. Company insiders own 5.10% of the company’s stock.

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.