Ryder System (NYSE:R) Issues Q2 Earnings Guidance

Ryder System (NYSE:R) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $2.75-2.95 for the period, compared to the consensus EPS estimate of $2.83. Ryder System also updated its FY 2024 guidance to 11.750-12.500 EPS.

Ryder System Stock Performance

NYSE R traded up $0.20 on Thursday, reaching $122.39. 491,715 shares of the stock were exchanged, compared to its average volume of 265,996. The firm has a market capitalization of $5.41 billion, a PE ratio of 14.02 and a beta of 1.40. The company has a current ratio of 1.11, a quick ratio of 0.62 and a debt-to-equity ratio of 2.46. Ryder System has a one year low of $76.15 and a one year high of $123.45. The company’s 50-day simple moving average is $114.74 and its two-hundred day simple moving average is $110.74.

Ryder System (NYSE:R) last released its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.43. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.81 earnings per share. Analysts expect that Ryder System will post 11.9 EPS for the current fiscal year.

Ryder System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s payout ratio is 32.53%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Ryder System from $122.00 to $135.00 and gave the company a buy rating in a research report on Wednesday. Robert W. Baird reiterated a buy rating and set a $140.00 target price on shares of Ryder System in a report on Wednesday, January 3rd. JPMorgan Chase & Co. increased their target price on shares of Ryder System from $120.00 to $126.00 and gave the stock a neutral rating in a report on Wednesday. StockNews.com upgraded shares of Ryder System from a hold rating to a buy rating in a report on Wednesday. Finally, Vertical Research cut shares of Ryder System from a buy rating to a hold rating and set a $120.00 target price on the stock. in a report on Wednesday, January 10th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $123.71.

Insider Activity at Ryder System

In related news, CMO Karen M. Jones sold 7,737 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total value of $877,994.76. Following the completion of the transaction, the chief marketing officer now directly owns 12,396 shares of the company’s stock, valued at approximately $1,406,698.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.10% of the stock is currently owned by 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.