Ryder System, Inc. (R) Announces Quarterly Earnings Results
Ryder System, Inc. (NYSE:R) issued its quarterly earnings data on Tuesday. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.04, Bloomberg Earnings reports. Ryder System had a net margin of 3.17% and a return on equity of 11.71%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the firm posted $1.67 EPS. Ryder System’s revenue for the quarter was up 7.2% on a year-over-year basis. Ryder System updated its Q4 guidance to $1.31-1.41 EPS.
Shares of Ryder System (R) opened at 81.90 on Wednesday. The company has a 50 day moving average of $81.72 and a 200 day moving average of $73.63. The firm has a market cap of $4.34 billion, a PE ratio of 19.72 and a beta of 1.41. Ryder System has a 52 week low of $62.03 and a 52 week high of $85.50.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, November 20th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, November 17th. Ryder System’s payout ratio is 44.12%.
In related news, insider Dennis C. Cooke sold 9,650 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $72.75, for a total value of $702,037.50. Following the completion of the transaction, the insider now owns 2,883 shares in the company, valued at approximately $209,738.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John S. Sensing sold 4,502 shares of the stock in a transaction dated 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 40,427 shares of company stock valued at $2,933,827 in the last 90 days. Insiders own 1.95% of the company’s stock.
Several brokerages have issued reports on R. BidaskClub raised shares of Ryder System from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. ValuEngine downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Robert W. Baird reaffirmed an “outperform” rating and issued a $98.00 target price (up previously from $84.00) on shares of Ryder System in a report on Monday, October 2nd. J P Morgan Chase & Co lifted their target price on shares of Ryder System from $69.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Finally, 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. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $83.86.
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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