Ryder System (NYSE:R – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $11.90-12.40 for the period, compared to the consensus estimate of $12.04. The company issued revenue guidance of ~$12.73 billion, compared to the consensus revenue estimate of $13.17 billion. Ryder System also updated its Q3 guidance to $3.30-3.50 EPS.
Ryder System Price Performance
Shares of NYSE:R traded up $0.17 during midday trading on Friday, reaching $132.17. 301,552 shares of the company’s stock were exchanged, compared to its average volume of 261,454. The firm has a market capitalization of $5.79 billion, a PE ratio of 17.31 and a beta of 1.29. The company’s 50 day simple moving average is $123.69 and its two-hundred day simple moving average is $118.77. Ryder System has a 12 month low of $91.31 and a 12 month high of $136.41. 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 (NYSE:R – Get Free Report) last posted its earnings results on Thursday, July 25th. The transportation company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.88 by $0.12. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the company earned $3.61 EPS. Ryder System’s revenue was up 10.3% on a year-over-year basis. Equities research analysts expect that Ryder System will post 12.17 earnings per share for the current fiscal year.
Ryder System Increases Dividend
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Vertical Research raised Ryder System from a hold rating to a buy rating and boosted their target price for the stock from $125.00 to $145.00 in a report on Friday, June 14th. Morgan Stanley began coverage on Ryder System in a research note on Monday, June 24th. They issued an overweight rating and a $165.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price 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. Robert W. Baird upped their price target on shares of Ryder System from $140.00 to $155.00 and gave the stock an outperform rating in a research report on Friday. Finally, Stephens began coverage on shares of Ryder System in a research report on Monday, July 8th. They issued an equal weight rating for the company. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ryder System has a consensus rating of Moderate Buy and a consensus price target of $137.86.
Get Our Latest Research Report on R
Insider Transactions at Ryder System
In other news, CMO Karen M. Jones sold 6,776 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $120.44, for a total transaction of $816,101.44. Following the completion of the transaction, the chief marketing officer now directly owns 5,666 shares in the company, valued at approximately $682,413.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ryder System news, CFO John J. Diez sold 13,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $126.69, for a total value of $1,646,970.00. Following the completion of the transaction, the chief financial officer now directly owns 135,471 shares of the company’s stock, valued at $17,162,820.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Karen M. Jones sold 6,776 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $120.44, for a total value of $816,101.44. Following the sale, the chief marketing officer now directly owns 5,666 shares in the company, valued at approximately $682,413.04. The disclosure for this sale can be found here. Insiders have sold 84,129 shares of company stock worth $10,598,226 in the last three months. 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.
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