Ryder System (NYSE:R) Releases FY24 Earnings Guidance

Ryder System (NYSE:R) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $11.90-12.40 for the period, compared to the consensus EPS estimate of $12.04. The company issued revenue guidance of ~$12.73 billion, compared to the consensus revenue estimate of $13.17 billion. Ryder System also updated its Q3 guidance to $3.30-3.50 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on R. Morgan Stanley initiated coverage on shares of Ryder System in a report on Monday, June 24th. They issued an overweight rating and a $165.00 target price on the stock. Vertical Research upgraded shares of Ryder System from a hold rating to a buy rating and lifted their price objective for the company from $125.00 to $145.00 in a research note on Friday, June 14th. Robert W. Baird increased their target price on shares of Ryder System from $140.00 to $155.00 and gave the stock an outperform rating in a research note on Friday. Stephens initiated coverage on Ryder System in a research report on Monday, July 8th. They issued an equal weight rating on the stock. Finally, The Goldman Sachs Group upped their price objective on Ryder System from $122.00 to $135.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ryder System currently has an average rating of Moderate Buy and a consensus target price of $137.86.

Ryder System Price Performance

Shares of NYSE:R traded up $0.17 during trading on Friday, hitting $132.17. 301,552 shares of the stock were exchanged, compared to its average volume of 261,454. The company has a market cap of $5.79 billion, a PE ratio of 17.31 and a beta of 1.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.22. The company has a fifty day moving average price of $123.69 and a two-hundred day moving average price of $118.77. Ryder System has a 12-month low of $91.31 and a 12-month high of $136.41.

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, topping analysts’ consensus estimates of $2.88 by $0.12. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the company posted $3.61 EPS. The company’s revenue was up 10.3% on a year-over-year basis. On average, analysts forecast that Ryder System will post 12.17 EPS for the current year.

Ryder System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Monday, August 19th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.45%. This is a positive change from Ryder System’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 19th. Ryder System’s dividend payout ratio is 36.98%.

Insider Transactions at Ryder System

In other Ryder System news, CFO John J. Diez sold 13,000 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $126.69, for a total value of $1,646,970.00. Following the completion of the transaction, the chief financial officer now directly owns 135,471 shares in the company, valued at approximately $17,162,820.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CMO Karen M. Jones sold 6,776 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $120.44, for a total transaction of $816,101.44. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John J. Diez sold 13,000 shares of Ryder System stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $126.69, for a total transaction of $1,646,970.00. Following the completion of the transaction, the chief financial officer now owns 135,471 shares in the company, valued at approximately $17,162,820.99. The disclosure for this sale can be found here. Insiders sold a total of 84,129 shares of company stock worth $10,598,226 over the last ninety days. 5.10% of the stock is currently owned by corporate 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.