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

Ryder System (NYSE:R) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 11.900-12.100 for the period, compared to the consensus EPS 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 Stock Down 4.2 %

Shares of R traded down $6.14 during midday trading on Thursday, reaching $138.89. 496,528 shares of the stock were exchanged, compared to its average volume of 261,988. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 12.72 and a beta of 1.28. 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 has a 12-month low of $91.31 and a 12-month high of $154.76. The firm has a 50 day simple moving average of $142.87 and a 200-day simple moving average of $130.76.

Ryder System (NYSE:R) last issued its quarterly earnings data on Thursday, July 25th. The transportation company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.13. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.24 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 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.61 earnings per share. Research analysts forecast that Ryder System will post 12.2 EPS for the current year.

Ryder System Dividend Announcement

The firm also recently disclosed 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. This represents a $3.24 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Monday, November 18th. Ryder System’s payout ratio is presently 29.67%.

Analyst Ratings Changes

R has been the topic of several recent research reports. Robert W. Baird raised their target price on Ryder System from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. cut their price objective on Ryder System from $126.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. StockNews.com upgraded Ryder System from a “hold” rating to a “buy” rating in a report on Monday. Finally, Stephens started coverage on shares of Ryder System in a research report on Monday, July 8th. They issued an “equal weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Ryder System presently has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Insider Activity at Ryder System

In related news, EVP Francisco Jr. Lopez sold 12,730 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $139.32, for a total value of $1,773,543.60. Following the completion of the sale, the executive vice president now owns 47,779 shares in the company, valued at approximately $6,656,570.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.