KeyCorp Weighs in on Ryder System Inc.’s Q3 2016 Earnings (R)
Ryder System Inc. (NYSE:R) – Investment analysts at KeyCorp decreased their Q3 2016 earnings estimates for Ryder System in a research note issued to investors on Thursday. KeyCorp analyst T. Fowler now forecasts that the brokerage will earn $1.65 per share for the quarter, down from their previous forecast of $1.70. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Ryder System’s Q4 2016 earnings at $1.57 EPS, FY2016 earnings at $5.90 EPS and FY2017 earnings at $6.05 EPS.
Other equities analysts have also recently issued reports about the company. Credit Agricole SA assumed coverage on Ryder System in a report on Friday, September 30th. They set a “buy” rating and a $80.00 price objective on the stock. Zacks Investment Research cut Ryder System from a “hold” rating to a “sell” rating in a report on Thursday, September 29th. Robert W. Baird reissued a “buy” rating on shares of Ryder System in a report on Monday, June 13th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Ryder System in a report on Monday, June 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $81.38.
Ryder System (NYSE:R) opened at 66.48 on Monday. Ryder System has a 12-month low of $45.12 and a 12-month high of $76.08. The company has a market capitalization of $3.56 billion, a PE ratio of 12.00 and a beta of 1.63. The firm’s 50 day moving average price is $65.46 and its 200-day moving average price is $65.81.
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Ryder System (NYSE:R) last announced its earnings results on Wednesday, July 27th. The company reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.02. Ryder System had a return on equity of 16.21% and a net margin of 4.44%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis.
Several large investors have recently modified their holdings of the company. Aperio Group LLC raised its stake in shares of Ryder System by 42.8% in the first quarter. Aperio Group LLC now owns 28,207 shares of the company’s stock worth $1,827,000 after buying an additional 8,459 shares in the last quarter. Ngam Advisors L.P. raised its stake in shares of Ryder System by 38.8% in the first quarter. Ngam Advisors L.P. now owns 35,795 shares of the company’s stock worth $2,319,000 after buying an additional 10,008 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Ryder System by 40.4% in the first quarter. Prudential Financial Inc. now owns 268,852 shares of the company’s stock worth $17,417,000 after buying an additional 77,300 shares in the last quarter. BlackRock Japan Co. Ltd raised its stake in shares of Ryder System by 1.4% in the first quarter. BlackRock Japan Co. Ltd now owns 2,735 shares of the company’s stock worth $177,000 after buying an additional 39 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in shares of Ryder System during the first quarter worth $203,000. Hedge funds and other institutional investors own 90.95% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Monday, November 21st will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.65%. Ryder System’s dividend payout ratio is currently 31.71%.
About Ryder System
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides full service leasing, commercial rental, contract maintenance and contract-related maintenance of trucks, tractors and trailers to customers in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
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