Ryder System, Inc. (NYSE:R) Announces Quarterly Earnings Results
Ryder System, Inc. (NYSE:R) issued its quarterly earnings results on Wednesday. The transportation company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.95 by $0.05, MarketWatch Earnings reports. Ryder System had a net margin of 3.55% and a return on equity of 13.27%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the business earned $1.56 earnings per share. Ryder System’s revenue for the quarter was up 5.3% compared to the same quarter last year. Ryder System updated its FY17 guidance to $4.38-4.58 EPS.
Shares of Ryder System (NYSE R) traded up 3.94% on Wednesday, hitting $76.44. The stock had a trading volume of 1,067,576 shares. Ryder System has a 52 week low of $62.03 and a 52 week high of $85.42. The company has a market cap of $4.09 billion, a PE ratio of 16.73 and a beta of 1.39. The stock’s 50-day moving average price is $70.21 and its 200 day moving average price is $72.44.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 21st will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, August 17th. This is a positive change from Ryder System’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.50%. Ryder System’s payout ratio is 38.34%.
Several research firms have issued reports on R. Stephens downgraded Ryder System from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $81.00 to $71.00 in a report on Wednesday, April 26th. Zacks Investment Research cut Ryder System from a “hold” rating to a “strong sell” rating in a research note on Friday, April 28th. BidaskClub raised Ryder System from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. ValuEngine raised Ryder System from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Seaport Global Securities began coverage on Ryder System in a research note on Friday, April 21st. They set a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $77.00.
Several hedge funds and other institutional investors have recently modified their holdings of R. Clear Investment Research LLC acquired a new position in shares of Ryder System during the second quarter valued at approximately $190,000. Boston Advisors LLC increased its position in shares of Ryder System by 212.6% in the second quarter. Boston Advisors LLC now owns 9,285 shares of the transportation company’s stock valued at $668,000 after buying an additional 6,315 shares in the last quarter. ING Groep NV increased its position in shares of Ryder System by 138.7% in the second quarter. ING Groep NV now owns 6,516 shares of the transportation company’s stock valued at $469,000 after buying an additional 3,786 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Ryder System by 16.6% in the second quarter. Russell Investments Group Ltd. now owns 101,937 shares of the transportation company’s stock valued at $7,339,000 after buying an additional 14,535 shares in the last quarter. Finally, Breton Hill Capital Ltd. increased its position in shares of Ryder System by 127.5% in the second quarter. Breton Hill Capital Ltd. now owns 8,419 shares of the transportation company’s stock valued at $606,000 after buying an additional 4,719 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.
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Ryder System Company Profile
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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