Brokerages Anticipate Ryder System, Inc. (R) Will Post Quarterly Sales of $1.77 Billion
Analysts expect Ryder System, Inc. (NYSE:R) to post sales of $1.77 billion for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Ryder System’s earnings. The lowest sales estimate is $1.72 billion and the highest is $1.83 billion. Ryder System reported sales of $1.70 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The business is scheduled to issue its next earnings report before the market opens on Wednesday, July 26th.
According to Zacks, analysts expect that Ryder System will report full year sales of $1.77 billion for the current year, with estimates ranging from $6.93 billion to $7.30 billion. For the next year, analysts anticipate that the business will report sales of $7.42 billion per share, with estimates ranging from $7.16 billion to $7.72 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Ryder System.
Ryder System (NYSE:R) last issued its quarterly earnings results on Tuesday, April 25th. The transportation company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by $0.02. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.68 billion. Ryder System had a return on equity of 13.27% and a net margin of 3.55%. Ryder System’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 EPS.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Ryder System from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Seaport Global Securities assumed coverage on Ryder System in a report on Friday, April 21st. They issued a “neutral” rating on the stock. BidaskClub upgraded Ryder System from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 11th. ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Stephens downgraded Ryder System from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $81.00 to $71.00 in a report on Wednesday, April 26th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Ryder System presently has a consensus rating of “Buy” and a consensus price target of $77.00.
Shares of Ryder System (NYSE R) opened at 73.09 on Thursday. The firm has a market cap of $3.91 billion, a P/E ratio of 16.00 and a beta of 1.39. The firm has a 50-day moving average price of $69.71 and a 200 day moving average price of $72.51. Ryder System has a one year low of $62.03 and a one year high of $85.42.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, August 21st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, August 17th. This is an increase from Ryder System’s previous quarterly dividend of $0.44. Ryder System’s dividend payout ratio (DPR) is currently 38.34%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in R. Private Advisor Group LLC purchased a new position in Ryder System during the first quarter worth about $116,000. LS Investment Advisors LLC boosted its stake in Ryder System by 28.8% in the first quarter. LS Investment Advisors LLC now owns 2,473 shares of the transportation company’s stock worth $187,000 after buying an additional 553 shares during the last quarter. Creative Planning boosted its stake in Ryder System by 10.0% in the second quarter. Creative Planning now owns 2,904 shares of the transportation company’s stock worth $209,000 after buying an additional 264 shares during the last quarter. Boston Advisors LLC bought a new stake in Ryder System during the first quarter worth $224,000. Finally, Contravisory Investment Management Inc. boosted its stake in Ryder System by 31.7% in the first quarter. Contravisory Investment Management Inc. now owns 3,196 shares of the transportation company’s stock worth $241,000 after buying an additional 770 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.
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 leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally 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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