KeyCorp Analysts Raise Earnings Estimates for Ryder System, Inc. (NYSE:R)

Ryder System, Inc. (NYSE:R – Get Rating) – Analysts at KeyCorp boosted their Q2 2022 earnings per share estimates for shares of Ryder System in a research report issued to clients and investors on Wednesday, April 27th. KeyCorp analyst T. Fowler now expects that the transportation company will earn $3.75 per share for the quarter, up from their prior estimate of $3.08. KeyCorp also issued estimates for Ryder System’s Q3 2022 earnings at $3.50 EPS, FY2022 earnings at $14.25 EPS and FY2023 earnings at $10.75 EPS.

Ryder System (NYSE:R – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The transportation company reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $1.23. Ryder System had a net margin of 6.25% and a return on equity of 24.86%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The business’s quarterly revenue was up 28.4% compared to the same quarter last year.

Several other research analysts also recently weighed in on the stock. Wolfe Research downgraded shares of Ryder System from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, April 5th. Stephens increased their price target on shares of Ryder System from $92.00 to $94.00 and gave the company an “equal weight” rating in a research note on Thursday, February 17th. Robert W. Baird cut shares of Ryder System from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $96.00 to $90.00 in a research report on Wednesday, January 5th. JPMorgan Chase & Co. lowered their price objective 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. Finally, StockNews.com lowered shares of Ryder System from a “strong-buy” rating to a “buy” rating in a report on Monday, April 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $87.83.

Shares of Ryder System stock opened at $69.90 on Monday. The firm has a 50-day simple moving average of $74.48 and a two-hundred day simple moving average of $78.70. The company has a market cap of $3.76 billion, a P/E ratio of 5.81 and a beta of 1.81. Ryder System has a fifty-two week low of $61.71 and a fifty-two week high of $93.05. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.75 and a current ratio of 1.06.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 18th. Shareholders of record on Tuesday, February 22nd were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Friday, February 18th. Ryder System’s payout ratio is currently 19.27%.

Several large investors have recently bought and sold shares of the company. Confluence Wealth Services Inc. purchased a new position in shares of Ryder System in the fourth quarter valued at $39,000. First Manhattan Co. bought a new position in Ryder System in the 3rd quarter valued at about $40,000. Rockefeller Capital Management L.P. grew its position in Ryder System by 423.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 623 shares of the transportation company’s stock valued at $51,000 after buying an additional 504 shares in the last quarter. Koshinski Asset Management Inc. grew its position in Ryder System by 59.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 749 shares of the transportation company’s stock valued at $59,000 after buying an additional 280 shares in the last quarter. Finally, Huntington National Bank bought a new position in Ryder System in the 4th quarter valued at about $77,000. 87.04% of the stock is owned by institutional investors and hedge funds.

Ryder System Company Profile (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.

Read More