Ryder System (NYSE:R) Issues Earnings Results, Beats Expectations By $1.23 EPS

Ryder System (NYSE:RGet Rating) issued its earnings results on Wednesday. The transportation company reported $3.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.36 by $1.23, MarketWatch Earnings reports. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Ryder System had a net margin of 5.37% and a return on equity of 20.58%. The firm’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. Ryder System updated its Q2 guidance to $3.50-$3.75 EPS and its FY22 guidance to $13.00-$14.00 EPS.

NYSE:R opened at $68.25 on Thursday. Ryder System has a 1 year low of $61.71 and a 1 year high of $93.05. The firm’s fifty day simple moving average is $74.81 and its 200 day simple moving average is $78.91. The company has a current ratio of 0.77, a quick ratio of 0.75 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of $3.67 billion, a PE ratio of 7.08 and a beta of 1.81.

The company also recently announced a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Tuesday, February 22nd were paid a $0.58 dividend. The ex-dividend date was Friday, February 18th. This represents a $2.32 dividend on an annualized basis and a yield of 3.40%. Ryder System’s payout ratio is presently 24.07%.

A number of large investors have recently bought and sold shares of the stock. Vident Investment Advisory LLC grew its position in Ryder System by 2.4% in the 4th quarter. Vident Investment Advisory LLC now owns 28,183 shares of the transportation company’s stock worth $2,323,000 after purchasing an additional 668 shares during the last quarter. Deutsche Bank AG grew its position in Ryder System by 68.4% in the 4th quarter. Deutsche Bank AG now owns 62,030 shares of the transportation company’s stock worth $5,112,000 after purchasing an additional 25,192 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in Ryder System by 9.5% in the 4th quarter. Parametric Portfolio Associates LLC now owns 212,830 shares of the transportation company’s stock worth $17,544,000 after purchasing an additional 18,412 shares during the last quarter. State of Tennessee Treasury Department grew its position in Ryder System by 73.0% in the 4th quarter. State of Tennessee Treasury Department now owns 15,734 shares of the transportation company’s stock worth $1,297,000 after purchasing an additional 6,640 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY grew its position in Ryder System by 9.5% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 9,576 shares of the transportation company’s stock worth $789,000 after purchasing an additional 828 shares during the last quarter. Institutional investors and hedge funds own 87.04% of the company’s stock.

Several equities research analysts recently commented on the stock. Robert W. Baird downgraded shares of Ryder System from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $96.00 to $90.00 in a research report on Wednesday, January 5th. Wells Fargo & Company cut their target price on shares of Ryder System from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Thursday, February 17th. StockNews.com downgraded shares of Ryder System from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 4th. Wolfe Research downgraded shares of Ryder System from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, April 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Ryder System from $88.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $87.83.

About Ryder System (Get Rating)

Ryder System, Inc operates as a logistics and transportation company worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as fleet support services.

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Earnings History for Ryder System (NYSE:R)

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