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

Ryder System (NYSE:R) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 11.900-12.100 for the period, compared to the consensus earnings per share estimate of 12.130. The company issued revenue guidance of $10.3 billion-$10.3 billion, compared to the consensus revenue estimate of $12.9 billion. Ryder System also updated its FY24 guidance to $11.90-12.10 EPS.

Analysts Set New Price Targets

Several research firms have commented on R. StockNews.com raised shares of Ryder System from a “hold” rating to a “buy” rating in a research note on Monday. Stephens initiated coverage on shares of Ryder System in a research note on Monday, July 8th. They set an “equal weight” rating on the stock. Robert W. Baird upped their target price on Ryder System from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. decreased their price target on Ryder System from $126.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.86.

Ryder System Price Performance

Shares of R traded down $6.14 during trading hours on Thursday, hitting $138.89. 496,528 shares of the company were exchanged, compared to its average volume of 261,988. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market capitalization of $6.01 billion, a PE ratio of 12.72 and a beta of 1.28. The firm has a fifty day simple moving average of $142.87 and a 200-day simple moving average of $130.76. Ryder System has a one year low of $91.31 and a one year high of $154.76.

Ryder System (NYSE:R) last released its quarterly earnings results on Thursday, July 25th. The transportation company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.13. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.24 billion. Ryder System had a return on equity of 17.22% and a net margin of 4.06%. Ryder System’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $3.61 EPS. As a group, sell-side analysts predict that Ryder System will post 12.2 earnings per share for the current year.

Ryder System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, November 18th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Monday, November 18th. Ryder System’s dividend payout ratio (DPR) is currently 29.67%.

Insider Activity

In other news, EVP Francisco Jr. Lopez sold 12,730 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $139.32, for a total value of $1,773,543.60. Following the completion of the sale, the executive vice president now owns 47,779 shares in the company, valued at $6,656,570.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.10% of the stock is owned by company insiders.

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.