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 earnings per share guidance of 11.900-12.100 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of NYSE:R traded up $0.90 during midday trading on Friday, hitting $139.76. The stock had a trading volume of 316,647 shares, compared to its average volume of 262,257. The company’s 50-day moving average price is $142.94 and its 200-day moving average price is $130.95. The company has a market capitalization of $6.13 billion, a P/E ratio of 18.20 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 fifty-two week low of $91.31 and a fifty-two week high of $154.76.

Ryder System (NYSE:R) last issued its earnings results on Thursday, October 24th. The transportation company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.39 by $0.05. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.58 EPS. As a group, equities research analysts predict that Ryder System will post 12.2 EPS for the current fiscal year.

Ryder System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, November 18th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, November 18th. Ryder System’s dividend payout ratio (DPR) is presently 42.19%.

Analyst Ratings Changes

Several brokerages recently issued reports on R. Stephens began coverage on shares of Ryder System in a report on Monday, July 8th. They set an “equal weight” rating on the stock. Robert W. Baird lifted their price target on shares of Ryder System from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, July 26th. StockNews.com raised shares of Ryder System from a “hold” rating to a “buy” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Ryder System from $148.00 to $144.00 and set a “neutral” rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.57.

Insider Activity

In other news, EVP Francisco Jr. Lopez sold 12,730 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 47,779 shares of the company’s stock, valued at approximately $6,656,570.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.10% of the company’s stock.

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.