$1.81 Billion in Sales Expected for Ryder System, Inc. (R) This Quarter
Analysts predict that Ryder System, Inc. (NYSE:R) will post sales of $1.81 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Ryder System’s earnings. The highest sales estimate is $1.83 billion and the lowest is $1.78 billion. Ryder System reported sales of $1.72 billion in the same quarter last year, which would suggest a positive year over year growth rate of 5.2%. The firm is expected to issue its next earnings report before the market opens on Tuesday, October 24th.
On average, analysts expect that Ryder System will report full-year sales of $1.81 billion for the current financial year, with estimates ranging from $7.11 billion to $7.26 billion. For the next year, analysts expect that the firm will report sales of $7.51 billion per share, with estimates ranging from $7.37 billion to $7.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Ryder System.
Ryder System (NYSE:R) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.07. Ryder System had a net margin of 3.17% and a return on equity of 11.71%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the business earned $1.56 EPS. Ryder System’s revenue was up 5.3% compared to the same quarter last year.
Several research firms recently weighed in on R. ValuEngine raised shares of Ryder System from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Robert W. Baird reaffirmed an “outperform” rating and set a $98.00 target price (up from $84.00) on shares of Ryder System in a research note on Monday, October 2nd. KeyCorp raised shares of Ryder System from a “sector weight” rating to an “overweight” rating in a research note on Wednesday, September 13th. BidaskClub raised shares of Ryder System from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Finally, Buckingham Research began coverage on shares of Ryder System in a research note on Monday, August 21st. They set a “buy” rating and a $85.00 target price for the company. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ryder System has a consensus rating of “Buy” and a consensus target price of $83.86.
Ryder System (NYSE R) traded down 0.24% on Monday, reaching $83.45. 113,376 shares of the company were exchanged. The firm has a 50-day moving average of $81.58 and a 200 day moving average of $73.56. The firm has a market capitalization of $4.42 billion, a P/E ratio of 20.09 and a beta of 1.41. Ryder System has a 12-month low of $62.03 and a 12-month high of $85.50.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 20th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.20%. Ryder System’s payout ratio is currently 44.12%.
In related news, CEO Robert E. Sanchez sold 26,275 shares of Ryder System stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $72.43, for a total transaction of $1,903,098.25. Following the completion of the transaction, the chief executive officer now directly owns 107,237 shares of the company’s stock, valued at approximately $7,767,175.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John S. Sensing sold 4,502 shares of Ryder System stock in a transaction dated Thursday, August 24th. The stock was 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 sold a total of 40,427 shares of company stock valued at $2,933,827 over the last three months. Corporate insiders own 1.95% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of Nova Scotia purchased a new position in shares of Ryder System during the 1st quarter worth about $830,000. Bank of New York Mellon Corp boosted its stake in shares of Ryder System by 6.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 820,490 shares of the transportation company’s stock worth $59,058,000 after purchasing an additional 51,763 shares during the period. Cipher Capital LP boosted its stake in shares of Ryder System by 152.2% during the 2nd quarter. Cipher Capital LP now owns 21,794 shares of the transportation company’s stock worth $1,569,000 after purchasing an additional 13,153 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of 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 worth $11,516,000 after purchasing an additional 97,300 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Ryder System by 11.4% during the 1st quarter. Geode Capital Management LLC now owns 551,479 shares of the transportation company’s stock worth $41,559,000 after purchasing an additional 56,642 shares during the period. 88.69% of the stock is owned by hedge funds and other institutional investors.
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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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