Ryder System, Inc. Plans Quarterly Dividend of $0.46 (R)
Ryder System, Inc. (NYSE:R) declared a quarterly dividend on Friday, October 6th, RTT News reports. Shareholders of record on Monday, November 20th will be given a dividend of 0.46 per share by the transportation company on Friday, December 15th. This represents a $1.84 dividend on an annualized basis and a yield of 2.21%.
Ryder System has raised its dividend by an average of 9.4% annually over the last three years and has raised its dividend every year for the last 8 years. Ryder System has a payout ratio of 41.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ryder System to earn $5.26 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 35.0%.
Ryder System (NYSE R) traded up 0.02% during trading on Friday, reaching $83.37. The company’s stock had a trading volume of 393,670 shares. Ryder System has a one year low of $62.03 and a one year high of $85.50. The company has a 50-day moving average of $79.09 and a 200 day moving average of $72.89. The firm has a market cap of $4.42 billion, a PE ratio of 20.07 and a beta of 1.41. Ryder System also saw unusually large options trading activity on Wednesday. Stock investors purchased 8,661 put options on the stock. This represents an increase of approximately 1,716% compared to the typical daily volume of 477 put options.
Ryder System (NYSE:R) last issued its earnings results on Wednesday, July 26th. The transportation company reported $1.00 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the company posted $1.56 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts expect that Ryder System will post $4.45 EPS for the current fiscal year.
In other news, insider Dennis C. Cooke sold 9,650 shares of Ryder System stock in a transaction on Monday, July 31st. The shares were sold at an average price of $72.75, for a total transaction of $702,037.50. Following the transaction, the insider now owns 2,883 shares in the company, valued at approximately $209,738.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Sensing sold 4,502 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $73.01, for a total transaction of $328,691.02. The disclosure for this sale can be found here. Insiders have sold a total of 40,427 shares of company stock worth $2,933,827 in the last quarter. Corporate insiders own 1.95% of the company’s stock.
R has been the topic of several research reports. ValuEngine upgraded shares of Ryder System from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. BidaskClub upgraded shares of Ryder System from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Friday, July 7th. Buckingham Research initiated coverage on shares of Ryder System in a report on Monday, August 21st. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Stifel Nicolaus restated a “hold” rating and issued a $68.00 target price on shares of Ryder System in a report on Tuesday, September 5th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ryder System presently has a consensus rating of “Buy” and a consensus target price of $81.83.
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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