Zacks: Brokerages Expect Ryder System, Inc. (NYSE:R) Will Announce Earnings of $1.24 Per Share

Brokerages expect Ryder System, Inc. (NYSE:R) to report $1.24 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Ryder System’s earnings, with estimates ranging from $0.94 to $1.35. Ryder System reported earnings per share of ($0.95) during the same quarter last year, which would suggest a positive year over year growth rate of 230.5%. The firm is scheduled to announce its next earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that Ryder System will report full year earnings of $5.35 per share for the current year, with EPS estimates ranging from $4.42 to $6.35. For the next year, analysts expect that the firm will post earnings of $6.12 per share, with EPS estimates ranging from $5.58 to $6.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Ryder System.

Ryder System (NYSE:R) last issued its quarterly earnings results on Wednesday, April 28th. The transportation company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.51. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.15 billion. Ryder System had a negative return on equity of 0.39% and a negative net margin of 2.37%. Ryder System’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted ($1.38) earnings per share.

A number of analysts recently commented on the company. TheStreet raised Ryder System from a “c” rating to a “b-” rating in a research report on Wednesday, April 28th. JPMorgan Chase & Co. raised their target price on Ryder System from $59.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 12th. Truist Securities raised their target price on Ryder System from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 21st. Truist raised their target price on Ryder System from $85.00 to $90.00 in a research report on Thursday, April 29th. Finally, Zacks Investment Research downgraded Ryder System from a “strong-buy” rating to a “hold” rating and set a $71.00 target price for the company. in a research report on Monday, January 11th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $71.00.

Shares of R traded up $1.65 on Tuesday, reaching $81.92. 546,436 shares of the company’s stock traded hands, compared to its average volume of 477,303. The company has a current ratio of 0.81, a quick ratio of 0.78 and a debt-to-equity ratio of 2.93. The stock has a market cap of $4.41 billion, a PE ratio of -21.22 and a beta of 1.98. The stock’s 50 day simple moving average is $76.22 and its two-hundred day simple moving average is $65.91. Ryder System has a 52-week low of $27.93 and a 52-week high of $81.98.

The business also recently declared a quarterly dividend, which was paid on Friday, March 19th. Stockholders of record on Tuesday, February 16th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, February 12th. Ryder System’s payout ratio is currently 45.16%.

Several institutional investors have recently bought and sold shares of the company. State of Michigan Retirement System boosted its holdings in shares of Ryder System by 1.0% in the first quarter. State of Michigan Retirement System now owns 19,845 shares of the transportation company’s stock worth $1,501,000 after acquiring an additional 200 shares during the period. Integrated Investment Consultants LLC boosted its holdings in shares of Ryder System by 6.0% in the first quarter. Integrated Investment Consultants LLC now owns 4,619 shares of the transportation company’s stock worth $349,000 after acquiring an additional 261 shares during the period. Buckley Wealth Management LLC boosted its holdings in shares of Ryder System by 1.9% in the fourth quarter. Buckley Wealth Management LLC now owns 15,735 shares of the transportation company’s stock worth $972,000 after acquiring an additional 300 shares during the period. HighTower Advisors LLC boosted its stake in Ryder System by 4.0% during the fourth quarter. HighTower Advisors LLC now owns 10,415 shares of the transportation company’s stock valued at $643,000 after buying an additional 404 shares during the period. Finally, Jackson Grant Investment Advisers Inc. bought a new stake in Ryder System during the fourth quarter valued at $25,000. 86.28% of the stock is owned by hedge funds and other institutional investors.

About Ryder System

Ryder System, Inc operates as a logistics and transportation company worldwide. The company 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, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as fleet support services.

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