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

Ryder System (NYSE:R) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 11.750-12.500 for the period, compared to the consensus estimate of 11.690. The company issued revenue guidance of $10.4 billion-$10.4 billion, compared to the consensus revenue estimate of $13.1 billion. Ryder System also updated its FY24 guidance to $11.75-12.50 EPS.

Ryder System Price Performance

Shares of Ryder System stock traded up $0.20 during trading on Thursday, reaching $122.39. 491,715 shares of the stock traded hands, compared to its average volume of 265,996. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 14.02 and a beta of 1.40. The business has a fifty day simple moving average of $114.74 and a two-hundred day simple moving average of $110.74. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.11 and a quick ratio of 0.62. Ryder System has a 52-week low of $76.15 and a 52-week high of $123.45.

Ryder System (NYSE:R) last issued its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.43. The firm had revenue of $3.10 billion during 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%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.81 earnings per share. Sell-side analysts expect that Ryder System will post 11.9 EPS for the current year.

Ryder System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.84 annualized dividend and a dividend yield of 2.32%. Ryder System’s dividend payout ratio (DPR) is presently 32.53%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on R. Stephens upped their target price on Ryder System from $113.00 to $120.00 and gave the stock an equal weight rating in a report on Wednesday. The Goldman Sachs Group upped their target price on Ryder System from $122.00 to $135.00 and gave the stock a buy rating in a report on Wednesday. Robert W. Baird reaffirmed a buy rating and set a $140.00 price target on shares of Ryder System in a research report on Wednesday, January 3rd. Vertical Research downgraded Ryder System from a buy rating to a hold rating and set a $120.00 price target on the stock. in a research report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. upped their price target on Ryder System from $120.00 to $126.00 and gave the stock a neutral rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $123.71.

Insider Transactions at Ryder System

In related news, CMO Karen M. Jones sold 7,737 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total value of $877,994.76. Following the transaction, the chief marketing officer now directly owns 12,396 shares of the company’s stock, valued at approximately $1,406,698.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.