Ryder System (NYSE:R) Issues Earnings Results

by · The Markets Daily

Ryder System (NYSE:R – Get Free Report) announced its quarterly earnings data on Thursday. The transportation company reported $4.33 EPS for the quarter, beating analysts’ consensus estimates of $4.15 by $0.18, FiscalAI reports. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Ryder System had a return on equity of 18.28% and a net margin of 3.88%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.57 earnings per share.

Ryder System Stock Up 6.5%

Shares of NYSE R traded up $15.51 during trading on Thursday, hitting $255.82. The stock had a trading volume of 129,936 shares, compared to its average volume of 357,898. Ryder System has a 12 month low of $157.67 and a 12 month high of $284.25. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $9.81 billion, a PE ratio of 20.73 and a beta of 1.05. The firm has a fifty day moving average of $242.27 and a two-hundred day moving average of $248.67.

Ryder System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, November 23rd will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 23rd. Ryder System’s payout ratio is currently 32.87%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on R shares. Citigroup upgraded Ryder System from a “neutral” rating to a “buy” rating and increased their target price for the stock from $283.00 to $285.00 in a report on Thursday, October 8th. Barclays upped their price objective on shares of Ryder System from $290.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Stephens raised shares of Ryder System to a “strong-buy” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. raised shares of Ryder System from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $296.00 to $298.00 in a research note on Monday, October 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Ryder System from $290.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold 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 $284.12.

Check Out Our Latest Analysis on Ryder System

About Ryder System

(Get Free Report)

Ryder System, Inc is a transportation and logistics company that provides fleet management, supply chain and dedicated transportation services. Founded in 1933 by James Ryder and headquartered in Miami, Florida, the company serves businesses that rely on commercial vehicles, transportation networks and logistics infrastructure.

Through its Fleet Management Solutions business, Ryder offers full-service leasing, commercial vehicle rental, maintenance, fleet support and related services for trucks, tractors, trailers and other vehicles.

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