Ryder System, Inc. (R) Receives Consensus Rating of “Hold” from Brokerages
Shares of Ryder System, Inc. (NYSE:R) have been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $86.33.
Several research firms have recently weighed in on R. Zacks Investment Research upgraded Ryder System from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, January 15th. Stifel Nicolaus reiterated a “hold” rating and set a $86.00 price target on shares of Ryder System in a research note on Thursday, January 18th. ValuEngine downgraded Ryder System from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. KeyCorp reiterated an “overweight” rating and set a $95.00 price target (down previously from $100.00) on shares of Ryder System in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $73.00 price target (down previously from $94.00) on shares of Ryder System in a research note on Tuesday, February 20th.
A number of hedge funds and other institutional investors have recently modified their holdings of R. Bessemer Group Inc. boosted its stake in Ryder System by 369.7% in the 4th quarter. Bessemer Group Inc. now owns 1,832 shares of the transportation company’s stock worth $154,000 after purchasing an additional 1,442 shares during the period. SeaCrest Wealth Management LLC bought a new position in Ryder System in the 4th quarter worth about $204,000. Alambic Investment Management L.P. bought a new position in Ryder System in the 4th quarter worth about $210,000. Loews Corp bought a new position in Ryder System in the 4th quarter worth about $210,000. Finally, King Luther Capital Management Corp bought a new position in Ryder System in the 3rd quarter worth about $221,000. Institutional investors and hedge funds own 89.79% of the company’s stock.
Ryder System (NYSE:R) last announced its quarterly earnings data on Friday, February 16th. The transportation company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.84 billion. Ryder System had a return on equity of 10.47% and a net margin of 10.78%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. sell-side analysts forecast that Ryder System will post 5.59 EPS for the current year.
Ryder System declared that its Board of Directors has approved a stock repurchase program on Thursday, December 14th that authorizes the company to repurchase 1,500,000 shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Tuesday, February 20th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.08 annualized dividend and a yield of 2.84%. This is an increase from Ryder System’s previous quarterly dividend of $0.46. Ryder System’s dividend payout ratio (DPR) is currently 64.80%.
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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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