Ryder System (NYSE:R) Issues Q3 2024 Earnings Guidance

Ryder System (NYSE:R) updated its third quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.300-3.500 for the period, compared to the consensus EPS estimate of 3.390. The company issued revenue guidance of -. Ryder System also updated its FY24 guidance to $11.90-12.40 EPS.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on R. Robert W. Baird boosted their target price on Ryder System from $140.00 to $155.00 and gave the stock an outperform rating in a report on Friday. 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 report on Tuesday, July 9th. Morgan Stanley started coverage on Ryder System in a report on Monday, June 24th. They issued an overweight rating and a $165.00 price target for the company. Stephens started coverage on Ryder System in a report on Monday, July 8th. They issued an equal weight rating for the company. Finally, StockNews.com cut Ryder System from a strong-buy rating to a buy rating in a report on Friday, July 12th. Four equities research 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, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $137.86.

Ryder System Stock Up 0.2 %

Shares of R traded up $0.22 during trading on Friday, reaching $132.22. The company’s stock had a trading volume of 301,552 shares, compared to its average volume of 261,454. The company has a fifty day moving average of $123.69 and a two-hundred day moving average of $118.77. Ryder System has a twelve month low of $91.31 and a twelve month high of $136.41. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 17.31 and a beta of 1.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.22.

Ryder System (NYSE:R) last posted 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 $2.88 by $0.12. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.24 billion. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.61 EPS. On average, sell-side analysts predict that Ryder System will post 12.17 EPS for the current fiscal year.

Ryder System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Monday, August 19th will be given a dividend of $0.81 per share. This is a positive change from Ryder System’s previous quarterly dividend of $0.71. This represents a $3.24 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Monday, August 19th. Ryder System’s dividend payout ratio is currently 36.98%.

Insider Activity at Ryder System

In related news, SVP Sanford J. Hodes sold 3,360 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $125.59, for a total transaction of $421,982.40. Following the sale, the senior vice president now directly owns 24,119 shares of the company’s stock, valued at approximately $3,029,105.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Ryder System news, CFO John J. Diez sold 13,000 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 135,471 shares of the company’s stock, valued at $17,162,820.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Sanford J. Hodes sold 3,360 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.59, for a total value of $421,982.40. Following the completion of the sale, the senior vice president now directly owns 24,119 shares in the company, valued at $3,029,105.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,129 shares of company stock valued at $10,598,226. Corporate 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.