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

Ryder System (NYSE:R) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided earnings per share (EPS) guidance of 11.900-12.400 for the period, compared to the consensus estimate of 12.040. The company issued revenue guidance of $10.3 billion-$10.3 billion, compared to the consensus revenue estimate of $13.1 billion.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on R shares. Morgan Stanley initiated coverage on shares of Ryder System in a report on Monday, June 24th. They issued an overweight rating and a $165.00 price target on the stock. Stephens began coverage on Ryder System in a research report on Monday, July 8th. They set an equal weight rating on the stock. Vertical Research raised shares of Ryder System from a hold rating to a buy rating and boosted their price target for the company from $125.00 to $145.00 in a research report on Friday, June 14th. Robert W. Baird lifted their price objective on shares of Ryder System from $140.00 to $155.00 and gave the company an outperform rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Ryder System from $126.00 to $125.00 and set a neutral rating on the stock in a report on Tuesday, July 9th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $137.86.

Ryder System Price Performance

R opened at $129.37 on Tuesday. The stock has a market capitalization of $5.60 billion, a P/E ratio of 16.85 and a beta of 1.29. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.09. Ryder System has a 12-month low of $91.31 and a 12-month high of $143.54. The stock has a 50-day moving average price of $125.38 and a 200-day moving average price of $120.06.

Ryder System (NYSE:R) last issued its earnings results on Thursday, July 25th. The transportation company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.13. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter last year, the company earned $3.61 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. Equities analysts predict that Ryder System will post 12.19 earnings per share for the current fiscal year.

Ryder System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Monday, August 19th will be issued a dividend of $0.81 per share. The ex-dividend date is Monday, August 19th. This is a boost from Ryder System’s previous quarterly dividend of $0.71. This represents a $3.24 annualized dividend and a yield of 2.50%. Ryder System’s dividend payout ratio is currently 36.98%.

Insiders Place Their Bets

In other Ryder System news, EVP Robert D. Fatovic sold 17,335 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $126.61, for a total transaction of $2,194,784.35. Following the completion of the transaction, the executive vice president now owns 66,112 shares of the company’s stock, valued at approximately $8,370,440.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ryder System news, EVP Robert D. Fatovic sold 17,335 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $126.61, for a total transaction of $2,194,784.35. Following the completion of the transaction, the executive vice president now owns 66,112 shares of the company’s stock, valued at $8,370,440.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Francisco Jr. Lopez sold 12,730 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $139.32, for a total transaction of $1,773,543.60. Following the transaction, the executive vice president now directly owns 47,779 shares of the company’s stock, valued at approximately $6,656,570.28. The disclosure for this sale can be found here. Insiders have sold 80,136 shares of company stock valued at $10,265,181 in the last ninety days. Company 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.