Ryder System (NYSE:R) Reaches New 1-Year High on Better-Than-Expected Earnings

Shares of Ryder System, Inc. (NYSE:R - Get Free Report) hit a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $180.00 and last traded at $173.73, with a volume of 257813 shares traded. The stock had previously closed at $172.82.

The transportation company reported $3.32 EPS for the quarter, topping analysts' consensus estimates of $3.11 by $0.21. Ryder System had a return on equity of 17.83% and a net margin of 3.99%. The company had revenue of $3.19 billion for the quarter, compared to analysts' expectations of $3.17 billion. During the same quarter last year, the business earned $3.00 earnings per share. Ryder System's revenue was up .2% on a year-over-year basis.

Ryder System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 18th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Monday, August 18th. This is a boost from Ryder System's previous quarterly dividend of $0.81. Ryder System's payout ratio is currently 27.55%.

Analysts Set New Price Targets

A number of brokerages have recently commented on R. Susquehanna began coverage on Ryder System in a research note on Tuesday, July 15th. They set a "positive" rating and a $215.00 price target on the stock. Wolfe Research raised Ryder System from a "peer perform" rating to an "outperform" rating and set a $159.00 price objective on the stock in a research note on Tuesday, July 1st. Robert W. Baird lifted their price objective on Ryder System from $186.00 to $192.00 and gave the stock an "outperform" rating in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on Ryder System from $165.00 to $173.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, Stephens cut their price objective on Ryder System from $168.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $181.50.

Insider Buying and Selling at Ryder System

In other Ryder System news, Director E Follin Smith sold 1,243 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $144.38, for a total value of $179,464.34. Following the completion of the transaction, the director owned 39,802 shares in the company, valued at $5,746,612.76. This represents a 3.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert E. Sanchez sold 18,496 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $155.73, for a total value of $2,880,382.08. Following the completion of the transaction, the chief executive officer owned 40,824 shares of the company's stock, valued at $6,357,521.52. This trade represents a 31.18% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. LPL Financial LLC lifted its holdings in Ryder System by 12.0% during the 4th quarter. LPL Financial LLC now owns 14,552 shares of the transportation company's stock worth $2,283,000 after purchasing an additional 1,557 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Ryder System by 2.8% during the 4th quarter. JPMorgan Chase & Co. now owns 149,415 shares of the transportation company's stock worth $23,437,000 after purchasing an additional 4,062 shares in the last quarter. Norges Bank purchased a new stake in Ryder System during the 4th quarter worth about $97,844,000. New Age Alpha Advisors LLC purchased a new stake in Ryder System during the 4th quarter worth about $86,000. Finally, Pictet Asset Management Holding SA lifted its holdings in Ryder System by 7.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,870 shares of the transportation company's stock worth $921,000 after purchasing an additional 422 shares in the last quarter. Hedge funds and other institutional investors own 87.47% of the company's stock.

Ryder System Price Performance

The business has a fifty day moving average of $159.77 and a 200-day moving average of $153.78. The firm has a market cap of $7.55 billion, a PE ratio of 15.53 and a beta of 0.97. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.27.

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.