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.

Ryder System Stock Down 0.0 %

Shares of R opened at $120.15 on Friday. The company’s 50-day simple moving average is $120.64 and its 200-day simple moving average is $115.83. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.82 and a current ratio of 0.82. Ryder System has a 1 year low of $80.90 and a 1 year high of $128.85. The stock has a market capitalization of $5.27 billion, a PE ratio of 15.66 and a beta of 1.32.

Ryder System (NYSE:R) last issued its quarterly 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 company had revenue of $3.10 billion for 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%. Ryder System’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.81 EPS. Analysts forecast 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 issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Friday, May 17th. Ryder System’s dividend payout ratio (DPR) is 36.98%.

Wall Street Analysts Forecast Growth

R has been the topic of several research analyst reports. StockNews.com upgraded shares of Ryder System from a hold rating to a buy rating in a research note on Wednesday, April 24th. Vertical Research upgraded Ryder System from a hold rating to a buy rating and lifted their target price for the stock from $125.00 to $145.00 in a research report on Friday. Stephens upped their target price 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. Wells Fargo & Company boosted their price objective on Ryder System from $100.00 to $120.00 and gave the company an equal weight rating in a research note on Thursday, February 15th. Finally, The Goldman Sachs Group raised their target price on shares of Ryder System from $122.00 to $135.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Ryder System presently has a consensus rating of Moderate Buy and a consensus target price of $131.00.

Insider Activity at Ryder System

In other Ryder System news, SVP Sanford J. Hodes sold 3,360 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.59, for a total transaction of $421,982.40. Following the completion of the transaction, the senior vice president now owns 24,119 shares of the company’s stock, valued at $3,029,105.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Robert E. Sanchez sold 18,303 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $126.20, for a total transaction of $2,309,838.60. Following the transaction, the chief executive officer now owns 125,969 shares of the company’s stock, valued at $15,897,287.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sanford J. Hodes sold 3,360 shares of Ryder System stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $125.59, for a total transaction of $421,982.40. Following the completion of the sale, the senior vice president now directly owns 24,119 shares of the company’s stock, valued at $3,029,105.21. The disclosure for this sale can be found here. Insiders sold 95,800 shares of company stock valued at $11,990,862 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.

Ryder System Company Profile

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.