Ryder System, Inc. (NYSE:R – Get Free Report)’s share price shot up 8.9% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $118.70 and last traded at $118.70. 49,265 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 250,951 shares. The stock had previously closed at $109.00.
The transportation company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.71 by $0.43. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.06 billion. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. Ryder System’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.81 EPS.
Ryder System Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, February 16th. Ryder System’s dividend payout ratio (DPR) is presently 32.53%.
Analysts Set New Price Targets
Insider Activity at Ryder System
In related news, CMO Karen M. Jones sold 7,737 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total transaction of $877,994.76. Following the sale, the chief marketing officer now directly owns 12,396 shares of the company’s stock, valued at approximately $1,406,698.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.10% of the company’s stock.
Institutional Investors Weigh In On Ryder System
Several institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in Ryder System during the 3rd quarter worth $26,000. Contravisory Investment Management Inc. bought a new position in Ryder System during the 4th quarter worth $26,000. GAMMA Investing LLC bought a new position in Ryder System during the 4th quarter worth $45,000. CWM LLC grew its stake in Ryder System by 33.9% during the 3rd quarter. CWM LLC now owns 438 shares of the transportation company’s stock worth $47,000 after buying an additional 111 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Ryder System by 406.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 506 shares of the transportation company’s stock worth $54,000 after buying an additional 406 shares during the last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.
Ryder System Stock Performance
The stock has a market capitalization of $5.40 billion, a P/E ratio of 14.00 and a beta of 1.40. The stock has a 50 day moving average of $114.49 and a 200 day moving average of $110.66. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.62 and a current ratio of 1.11.
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.
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