Shares of Ryder System, Inc. (NYSE:R - Get Free Report) reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $122.94 and last traded at $121.59, with a volume of 34350 shares changing hands. The stock had previously closed at $122.01.
The transportation company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.43. The firm had revenue of $3.10 billion during 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 business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $2.81 earnings per share.
Ryder System Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were given 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 dividend yield of 2.32%. Ryder System's payout ratio is 32.53%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on R shares. Stephens lifted their price objective on shares of Ryder System from $113.00 to $120.00 and gave the company an "equal weight" rating in a research note on Wednesday. Wells Fargo & Company lifted their price objective on shares of Ryder System from $100.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, February 15th. The Goldman Sachs Group lifted their price objective on shares of Ryder System from $122.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday. Vertical Research cut shares of Ryder System from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Wednesday, January 10th. Finally, Robert W. Baird reissued a "buy" rating and issued a $140.00 price objective on shares of Ryder System in a research note on Wednesday, January 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Ryder System currently has an average rating of "Hold" and a consensus target price of $123.71.
Read Our Latest Research Report on Ryder System
Insider Activity at Ryder System
In other news, CMO Karen M. Jones sold 7,737 shares of the company's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.10% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in Ryder System in the third quarter valued at $26,000. Contravisory Investment Management Inc. bought a new position in Ryder System in the fourth quarter valued at $26,000. GAMMA Investing LLC bought a new position in Ryder System in the fourth quarter valued at $45,000. CWM LLC increased its stake in Ryder System by 33.9% in the third quarter. CWM LLC now owns 438 shares of the transportation company's stock valued at $47,000 after acquiring an additional 111 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Ryder System by 406.0% in the third quarter. Exchange Traded Concepts LLC now owns 506 shares of the transportation company's stock valued at $54,000 after acquiring an additional 406 shares during the last quarter. Institutional investors own 87.47% of the company's stock.
Ryder System Trading Up 0.2 %
The stock has a 50 day moving average of $114.49 and a 200 day moving average of $110.66. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $5.41 billion, a P/E ratio of 14.00 and a beta of 1.40.
Ryder System Company Profile
(
Get Free Report)
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.
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