Ryder System (NYSE:R) Issues FY24 Earnings Guidance

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

Ryder System Stock Performance

Ryder System stock traded up $0.90 during trading hours on Friday, reaching $139.76. 316,647 shares of the company were exchanged, compared to its average volume of 262,257. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 18.23 and a beta of 1.28. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.09. The stock has a 50-day moving average of $142.90 and a 200 day moving average of $130.81. Ryder System has a 12 month low of $91.31 and a 12 month high of $154.76.

Ryder System (NYSE:R) last posted its quarterly earnings data on Thursday, October 24th. The transportation company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.39 by $0.05. Ryder System had a return on equity of 17.22% and a net margin of 4.06%. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the prior year, the business earned $3.58 earnings per share. Ryder System’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts anticipate that Ryder System will post 12.2 earnings per share for the current year.

Ryder System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, November 18th will be paid 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 dividend yield of 2.32%. Ryder System’s payout ratio is 42.19%.

Analysts Set New Price Targets

Several research firms have issued reports on R. JPMorgan Chase & Co. dropped their price objective on Ryder System from $148.00 to $144.00 and set a “neutral” rating for the company in a research note on Friday. StockNews.com upgraded Ryder System from a “hold” rating to a “buy” rating in a report on Monday. Stephens started coverage on Ryder System in a report on Monday, July 8th. They issued an “equal weight” rating on the stock. Finally, Robert W. Baird raised their target price on Ryder System from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Three research 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.57.

Insider Buying and Selling at Ryder System

In other Ryder System news, EVP Francisco Jr. Lopez sold 12,730 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 47,779 shares in the company, valued at approximately $6,656,570.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.