Ryder System (NYSE:R) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Ryder System (NYSE:R) issued its earnings results on Thursday. The transportation company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.13, Briefing.com reports. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the business earned $3.61 EPS. The firm’s revenue was up 10.3% on a year-over-year basis.

Ryder System Price Performance

Shares of NYSE R traded up $0.17 during trading on Friday, reaching $132.17. The company had a trading volume of 301,554 shares, compared to its average volume of 293,035. Ryder System has a 52 week low of $91.31 and a 52 week high of $136.41. The stock has a market cap of $5.79 billion, a PE ratio of 17.21 and a beta of 1.29. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.82 and a current ratio of 1.13. The business’s 50 day moving average price is $123.82 and its 200-day moving average price is $118.95.

Ryder System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Monday, August 19th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Monday, August 19th. This is an increase from Ryder System’s previous quarterly dividend of $0.71. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.45%. Ryder System’s payout ratio is currently 36.98%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on R. Vertical Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and lifted their target price for the company from $125.00 to $145.00 in a research report on Friday, June 14th. Stephens initiated coverage on shares of Ryder System in a research report on Monday, July 8th. They issued an “equal weight” rating on the stock. Robert W. Baird boosted their price target on shares of Ryder System from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley initiated coverage on shares of Ryder System in a research report on Monday, June 24th. They issued an “overweight” rating and a $165.00 price target on the stock. Finally, StockNews.com lowered shares of Ryder System from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 12th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Insiders Place Their Bets

In related news, CMO Karen M. Jones sold 6,776 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $120.44, for a total transaction of $816,101.44. Following the completion of the sale, the chief marketing officer now directly owns 5,666 shares of the company’s stock, valued at $682,413.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Robert E. Sanchez sold 18,303 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $126.20, for a total transaction of $2,309,838.60. Following the completion of the sale, the chief executive officer now directly owns 125,969 shares of the company’s stock, valued at $15,897,287.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Karen M. Jones sold 6,776 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $120.44, for a total transaction of $816,101.44. Following the sale, the chief marketing officer now directly owns 5,666 shares of the company’s stock, valued at $682,413.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,129 shares of company stock valued at $10,598,226. 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.