Equities research analysts forecast that Ryder System, Inc. (NYSE:R) will announce $2.19 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Ryder System’s earnings, with the lowest sales estimate coming in at $2.10 billion and the highest estimate coming in at $2.28 billion. Ryder System posted sales of $1.90 billion during the same quarter last year, which would indicate a positive year over year growth rate of 15.3%. The firm is expected to report its next earnings results on Wednesday, August 4th.
On average, analysts expect that Ryder System will report full year sales of $8.97 billion for the current fiscal year, with estimates ranging from $8.84 billion to $9.16 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $9.29 billion, with estimates ranging from $9.09 billion to $9.56 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Ryder System.
Ryder System (NYSE:R) last released its earnings results on Wednesday, April 28th. The transportation company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.51. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.15 billion. Ryder System had a negative net margin of 2.37% and a negative return on equity of 0.39%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.38) EPS.
A number of research analysts have recently commented on R shares. JPMorgan Chase & Co. upped their price objective on shares of Ryder System from $59.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 12th. Truist Securities increased their price target on shares of Ryder System from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 21st. The Goldman Sachs Group started coverage on shares of Ryder System in a research report on Thursday, January 14th. They issued a “buy” rating and a $87.00 price target for the company. Vertical Research started coverage on shares of Ryder System in a research report on Thursday, April 1st. They issued a “buy” rating and a $93.00 price target for the company. Finally, Truist increased their price target on shares of Ryder System from $85.00 to $90.00 in a research report on Thursday, April 29th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $71.00.
Several institutional investors and hedge funds have recently added to or reduced their stakes in R. Norges Bank bought a new stake in shares of Ryder System during the fourth quarter valued at approximately $52,324,000. SummerHaven Investment Management LLC bought a new stake in shares of Ryder System during the fourth quarter valued at approximately $658,000. Schroder Investment Management Group boosted its stake in Ryder System by 567.6% in the fourth quarter. Schroder Investment Management Group now owns 673,349 shares of the transportation company’s stock valued at $41,586,000 after acquiring an additional 572,488 shares during the last quarter. FMR LLC boosted its stake in Ryder System by 574.2% in the first quarter. FMR LLC now owns 583,279 shares of the transportation company’s stock valued at $36,157,000 after acquiring an additional 496,769 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Ryder System by 112.1% in the fourth quarter. Morgan Stanley now owns 644,913 shares of the transportation company’s stock valued at $39,830,000 after acquiring an additional 340,893 shares during the last quarter. 86.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of R traded up $1.65 during trading hours on Thursday, reaching $81.92. 546,436 shares of the company traded hands, compared to its average volume of 477,303. The stock’s fifty day moving average is $76.22 and its 200 day moving average is $65.91. The stock has a market cap of $4.41 billion, a P/E ratio of -21.22 and a beta of 1.98. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.78 and a current ratio of 0.81. Ryder System has a 1-year low of $27.93 and a 1-year high of $81.98.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Shareholders of record on Tuesday, February 16th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, February 12th. This represents a $2.24 annualized dividend and a yield of 2.73%. Ryder System’s dividend payout ratio is 45.16%.
Ryder System Company Profile
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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