Ryder System (NYSE:R) Updates FY24 Earnings Guidance

Ryder System (NYSE:R - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $11.90-12.10 for the period, compared to the consensus earnings per share estimate of $12.13. Ryder System also updated its FY 2024 guidance to 11.900-12.100 EPS.

Analysts Set New Price Targets

Several brokerages have recently commented on R. Stephens began coverage on Ryder System in a research note on Monday, July 8th. They issued an "equal weight" rating on the stock. Robert W. Baird increased their target price on shares of Ryder System from $140.00 to $155.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. JPMorgan Chase & Co. reduced their price target on shares of Ryder System from $126.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 9th. Finally, StockNews.com raised shares of Ryder System from a "hold" rating to a "buy" rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.86.

Ryder System Price Performance

R traded down $6.14 on Thursday, hitting $138.89. 496,528 shares of the company were exchanged, compared to its average volume of 261,988. Ryder System has a fifty-two week low of $91.31 and a fifty-two week high of $154.76. The firm has a market capitalization of $6.01 billion, a P/E ratio of 12.72 and a beta of 1.28. The business's fifty day moving average is $142.87 and its 200 day moving average is $130.76. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.74 and a current ratio of 0.74.

Ryder System (NYSE:R - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The transportation company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm earned $3.61 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ryder System will post 12.2 EPS for the current year.

Ryder System Announces Dividend

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

Insider Activity at Ryder System

In related news, EVP Francisco Jr. Lopez sold 12,730 shares of the company's 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 transaction, the executive vice president now directly owns 47,779 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Insiders own 5.10% of the company's stock.

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.