Brokerages expect that Ryder System, Inc. (NYSE:R) will report sales of $1.83 billion for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Ryder System’s earnings, with the lowest sales estimate coming in at $1.81 billion and the highest estimate coming in at $1.88 billion. Ryder System posted sales of $1.73 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.8%. The company is expected to issue its next quarterly earnings results before the market opens on Friday, February 16th.
On average, analysts expect that Ryder System will report full-year sales of $1.83 billion for the current fiscal year, with estimates ranging from $7.20 billion to $7.27 billion. For the next year, analysts forecast that the firm will post sales of $7.54 billion per share, with estimates ranging from $7.44 billion to $7.80 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Ryder System.
Several equities research analysts recently issued reports on the company. Buckingham Research lifted their price objective on Ryder System from $92.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Stifel Nicolaus reissued a “hold” rating and set a $86.00 price objective on shares of Ryder System in a research note on Thursday, January 18th. Zacks Investment Research raised Ryder System from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. JPMorgan Chase & Co. lifted their price objective on Ryder System from $69.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. Finally, Aegis reissued a “buy” rating and set a $91.00 price objective (up previously from $84.00) on shares of Ryder System in a research note on Tuesday, October 10th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ryder System presently has a consensus rating of “Buy” and a consensus target price of $88.71.
A number of hedge funds have recently modified their holdings of R. Artisan Partners Limited Partnership lifted its stake in shares of Ryder System by 3.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,788,271 shares of the transportation company’s stock valued at $151,198,000 after acquiring an additional 53,772 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Ryder System by 22.6% in the 3rd quarter. Schroder Investment Management Group now owns 1,073,478 shares of the transportation company’s stock valued at $90,182,000 after acquiring an additional 198,098 shares during the last quarter. Pzena Investment Management LLC bought a new stake in shares of Ryder System in the 3rd quarter valued at about $47,625,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Ryder System by 16.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 509,469 shares of the transportation company’s stock valued at $42,883,000 after acquiring an additional 72,710 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in shares of Ryder System by 4.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 448,317 shares of the transportation company’s stock valued at $37,905,000 after acquiring an additional 20,597 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.
Ryder System (NYSE R) opened at $82.99 on Wednesday. The firm has a market capitalization of $4,390.00, a price-to-earnings ratio of 22.37, a PEG ratio of 0.97 and a beta of 1.41. Ryder System has a 52-week low of $62.52 and a 52-week high of $90.26. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.02 and a quick ratio of 0.96.
Ryder System announced that its Board of Directors has initiated a stock buyback program on Thursday, December 14th that permits the company to buyback 1,500,000 shares. This buyback authorization permits the transportation company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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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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