Ryder System (NYSE:R) Releases Q3 2024 Earnings Guidance

Ryder System (NYSE:R) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.300-3.500 for the period, compared to the consensus estimate of 3.390. The company issued revenue guidance of -. Ryder System also updated its FY24 guidance to $11.90-12.40 EPS.

Ryder System Price Performance

Shares of Ryder System stock opened at $132.17 on Friday. The stock’s 50-day simple moving average is $123.82 and its 200-day simple moving average is $118.95. Ryder System has a 52 week low of $91.31 and a 52 week high of $136.41. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 17.21 and a beta of 1.29. The company has a quick ratio of 0.82, a current ratio of 1.13 and a debt-to-equity ratio of 2.45.

Ryder System (NYSE:R) last posted its earnings results on Thursday, July 25th. The transportation company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.13. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.24 billion. Ryder System had a return on equity of 17.22% and a net margin of 4.06%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.61 earnings per share. As a group, analysts expect that Ryder System will post 12.4 earnings per share for the current fiscal year.

Ryder System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Monday, August 19th will be given a $0.81 dividend. 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%. The ex-dividend date of this dividend is Monday, August 19th. Ryder System’s payout ratio is currently 36.98%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Ryder System from $126.00 to $125.00 and set a neutral rating on the stock in a research report on Tuesday, July 9th. Stephens started coverage on Ryder System in a research note on Monday, July 8th. They set an equal weight rating on the stock. Robert W. Baird boosted their price objective on Ryder System from $140.00 to $155.00 and gave the stock an outperform rating in a research note on Friday. StockNews.com cut Ryder System from a strong-buy rating to a buy rating in a research note on Friday, July 12th. Finally, Morgan Stanley started coverage on Ryder System in a research note on Monday, June 24th. They set an overweight rating and a $165.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Ryder System presently has an average rating of Moderate Buy and a consensus price target of $137.86.

Insider Activity

In other news, CEO Robert E. Sanchez sold 11,992 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $127.08, for a total transaction of $1,523,943.36. Following the transaction, the chief executive officer now owns 125,969 shares of the company’s stock, valued at $16,008,140.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CMO Karen M. Jones sold 6,776 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $120.44, for a total value of $816,101.44. Following the transaction, the chief marketing officer now owns 5,666 shares of the company’s stock, valued at $682,413.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert E. Sanchez sold 11,992 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $127.08, for a total value of $1,523,943.36. Following the completion of the transaction, the chief executive officer now directly owns 125,969 shares in the company, valued at approximately $16,008,140.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,129 shares of company stock valued at $10,598,226. 5.10% of the stock is currently owned by insiders.

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.