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

Ryder System (NYSE:R) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 11.750-12.500 for the period, compared to the consensus EPS estimate of 11.690. The company issued revenue guidance of $10.4 billion-$10.4 billion, compared to the consensus revenue estimate of $13.1 billion. Ryder System also updated its FY24 guidance to $11.75-12.50 EPS.

Ryder System Trading Up 0.2 %

R stock traded up $0.20 on Thursday, hitting $122.39. 491,715 shares of the company were exchanged, compared to its average volume of 265,996. Ryder System has a twelve month low of $76.15 and a twelve month high of $123.45. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.11 and a quick ratio of 0.62. The business’s fifty day moving average is $114.74 and its two-hundred day moving average is $110.74. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 14.02 and a beta of 1.40.

Ryder System (NYSE:R) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.71 by $0.43. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the business posted $2.81 earnings per share. Ryder System’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts forecast that Ryder System will post 11.9 earnings per share for the current year.

Ryder System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s payout ratio is 32.53%.

Wall Street Analysts Forecast Growth

R has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Ryder System from $122.00 to $135.00 and gave the company a buy rating in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Ryder System from $100.00 to $120.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. increased their price objective on shares of Ryder System from $120.00 to $126.00 and gave the stock a neutral rating in a report on Wednesday. Robert W. Baird reissued a buy rating and set a $140.00 target price on shares of Ryder System in a research note on Wednesday, January 3rd. Finally, Vertical Research cut shares of Ryder System from a buy rating to a hold rating and set a $120.00 target price on the stock. in a research note on Wednesday, January 10th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $123.71.

Insiders Place Their Bets

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total value of $877,994.76. Following the completion of the transaction, the chief marketing officer now directly owns 12,396 shares in the company, valued at $1,406,698.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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.