KeyCorp Weighs in on Ryder System, Inc.’s FY2018 Earnings (R)
Ryder System, Inc. (NYSE:R) – KeyCorp raised their FY2018 earnings estimates for shares of Ryder System in a research report issued to clients and investors on Wednesday. KeyCorp analyst T. Fowler now forecasts that the transportation company will earn $5.35 per share for the year, up from their prior estimate of $5.10. KeyCorp has a “Overweight” rating on the stock.
Other equities research analysts have also recently issued reports about the company. BidaskClub cut Ryder System from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded Ryder System from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Friday, July 7th. ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Buckingham Research started coverage on Ryder System in a research note on Monday, August 21st. They set a “buy” rating and a $85.00 target price on the stock. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $68.00 target price on shares of Ryder System in a research note on Tuesday, September 5th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.17.
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Ryder System (NYSE R) traded down 0.29% during trading on Friday, hitting $79.26. 173,720 shares of the company’s stock traded hands. The company’s 50 day moving average price is $74.83 and its 200 day moving average price is $72.19. 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 $4.20 billion, a PE ratio of 19.08 and a beta of 1.37.
Ryder System (NYSE:R) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.07. Ryder System had a net margin of 3.17% and a return on equity of 11.71%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company earned $1.56 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in R. Bank of Nova Scotia purchased a new position in Ryder System during the 1st quarter valued at about $830,000. Prudential Financial Inc. grew its holdings in Ryder System by 3.6% during the 1st quarter. Prudential Financial Inc. now owns 229,255 shares of the transportation company’s stock valued at $17,295,000 after buying an additional 8,000 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Ryder System by 155.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 159,988 shares of the transportation company’s stock valued at $11,516,000 after buying an additional 97,300 shares in the last quarter. Mason Street Advisors LLC grew its holdings in Ryder System by 1.0% during the 1st quarter. Mason Street Advisors LLC now owns 7,389 shares of the transportation company’s stock valued at $557,000 after buying an additional 75 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Ryder System by 11.4% during the 1st quarter. Geode Capital Management LLC now owns 551,479 shares of the transportation company’s stock valued at $41,559,000 after buying an additional 56,642 shares in the last quarter. Institutional investors and hedge funds own 89.54% of the company’s stock.
In related news, CEO Robert E. Sanchez sold 26,275 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $72.43, for a total value of $1,903,098.25. Following the sale, the chief executive officer now directly owns 107,237 shares in the company, valued at approximately $7,767,175.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Sensing sold 4,502 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $73.01, for a total value of $328,691.02. The disclosure for this sale can be found here. Insiders sold a total of 40,427 shares of company stock worth $2,933,827 over the last 90 days. 1.95% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, August 21st will be paid a $0.46 dividend. This is a boost from Ryder System’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, August 17th. Ryder System’s payout ratio is currently 44.12%.
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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