Ryder System (NYSE:R - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday 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 11.690. 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.
Ryder System Stock Up 12.0 %
NYSE R traded up $13.05 during trading hours on Tuesday, hitting $122.05. 714,917 shares of the company traded hands, compared to its average volume of 259,980. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 13.98 and a beta of 1.40. Ryder System has a twelve month low of $76.15 and a twelve month high of $122.81. The business's 50-day moving average is $114.26 and its 200-day moving average is $110.58. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.62 and a current ratio of 0.62.
Ryder System (NYSE:R - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The transportation company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.75 by $0.20. Ryder System had a net margin of 3.45% and a return on equity of 19.68%. The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.98 billion. During the same quarter last year, the company posted $3.89 earnings per share. The company's revenue for the quarter was down 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Ryder System will post 11.9 earnings per share for the current year.
Ryder System Announces Dividend
The firm also recently announced 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 was Friday, February 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.33%. Ryder System's payout ratio is presently 32.53%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on R shares. Vertical Research lowered Ryder System from a buy rating to a hold rating and set a $120.00 price target on the stock. in a research note on Wednesday, January 10th. JPMorgan Chase & Co. upped their price objective on shares of Ryder System from $117.00 to $120.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Stephens boosted their target price 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. Robert W. Baird reiterated a buy rating and issued a $140.00 price target on shares of Ryder System in a research note on Wednesday, January 3rd. Finally, Wells Fargo & Company boosted their price objective on Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $120.00.
View Our Latest Report on R
Insider Buying and Selling
In related news, CMO Karen M. Jones sold 7,737 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total value of $877,994.76. Following the completion of the sale, the chief marketing officer now directly owns 12,396 shares of the company's stock, valued at approximately $1,406,698.08. The transaction 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 company insiders.
About Ryder System
(
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.
See Also
Before you consider Ryder System, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ryder System wasn't on the list.
While Ryder System currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
