Ryder System (NYSE:R) Updates FY 2024 Earnings Guidance

Ryder System (NYSE:R) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 11.900-12.100 for the period, compared to the consensus estimate of 12.130. The company issued revenue guidance of $10.3 billion-$10.3 billion, compared to the consensus revenue estimate of $12.9 billion. Ryder System also updated its FY24 guidance to $11.90-12.10 EPS.

Ryder System Trading Up 0.6 %

Shares of Ryder System stock traded up $0.90 during trading hours on Friday, hitting $139.76. The company’s stock had a trading volume of 316,647 shares, compared to its average volume of 262,257. The business has a fifty day moving average of $142.90 and a 200 day moving average of $130.81. The company has a market capitalization of $6.13 billion, a PE ratio of 18.23 and a beta of 1.28. Ryder System has a 1-year low of $91.31 and a 1-year high of $154.76. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.09.

Ryder System (NYSE:R) last released its quarterly earnings data on Thursday, October 24th. The transportation company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.39 by $0.05. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.58 EPS. As a group, equities analysts forecast 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. This represents a $3.24 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, November 18th. Ryder System’s payout ratio is 42.19%.

Analyst Ratings Changes

R has been the subject of several research reports. Stephens began coverage on shares of Ryder System in a report on Monday, July 8th. They set an “equal weight” rating for the company. StockNews.com raised shares of Ryder System from a “hold” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. dropped their target price on shares of Ryder System from $148.00 to $144.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Robert W. Baird lifted their price target 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.57.

Insider Transactions at Ryder System

In other Ryder System news, EVP Francisco Jr. Lopez sold 12,730 shares of Ryder System stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $139.32, for a total transaction of $1,773,543.60. Following the completion of the transaction, the executive vice president now directly owns 47,779 shares of the company’s stock, valued at $6,656,570.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.