Zacks: Analysts Anticipate Ryder System, Inc. (R) Will Post Quarterly Sales of $1.81 Billion
Brokerages forecast that Ryder System, Inc. (NYSE:R) will post sales of $1.81 billion for the current quarter, Zacks reports. Six analysts have provided estimates for Ryder System’s earnings. The highest sales estimate is $1.83 billion and the lowest is $1.78 billion. Ryder System posted sales of $1.72 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5.2%. The firm is scheduled to issue its next earnings report on Tuesday, October 24th.
On average, analysts expect that Ryder System will report full-year sales of $1.81 billion for the current financial year, with estimates ranging from $7.11 billion to $7.26 billion. For the next fiscal year, analysts anticipate that the company will post sales of $7.51 billion per share, with estimates ranging from $7.32 billion to $7.97 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Ryder System.
Ryder System (NYSE:R) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.07. Ryder System had a net margin of 3.17% and a return on equity of 11.71%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the business posted $1.56 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year.
Several research firms have commented on R. BidaskClub raised shares of Ryder System from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. ValuEngine raised shares of Ryder System from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research cut shares of Ryder System from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Buckingham Research began coverage on shares of Ryder System in a research note on Monday, August 21st. They set a “buy” rating and a $85.00 target price on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $78.33.
Shares of Ryder System (NYSE:R) traded down 1.20% on Monday, hitting $77.60. 791,625 shares of the stock were exchanged. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 18.69 and a beta of 1.39. The firm’s 50 day moving average price is $73.41 and its 200 day moving average price is $72.06. Ryder System has a one year low of $62.03 and a one year high of $85.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 21st will be paid a $0.46 dividend. The ex-dividend date is Thursday, August 17th. This represents a $1.84 annualized dividend and a dividend yield of 2.37%. This is a boost from Ryder System’s previous quarterly dividend of $0.44. Ryder System’s payout ratio is currently 44.12%.
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In other Ryder System news, CEO Robert E. Sanchez sold 26,275 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $72.43, for a total value of $1,903,098.25. Following the completion of the transaction, the chief executive officer now directly owns 107,237 shares in the company, valued at $7,767,175.91. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Dennis C. Cooke sold 9,650 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $72.75, for a total transaction of $702,037.50. Following the completion of the transaction, the insider now owns 2,883 shares of the company’s stock, valued at $209,738.25. The disclosure for this sale can be found here. Insiders sold a total of 40,427 shares of company stock worth $2,933,827 in the last ninety days. Corporate insiders own 1.95% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlueMountain Capital Management LLC purchased a new position in shares of Ryder System during the second quarter valued at approximately $109,000. Private Advisor Group LLC purchased a new position in shares of Ryder System during the first quarter valued at approximately $116,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ryder System by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock valued at $141,000 after buying an additional 156 shares during the last quarter. JFS Wealth Advisors LLC boosted its position in shares of Ryder System by 1.1% in the second quarter. JFS Wealth Advisors LLC now owns 2,160 shares of the transportation company’s stock valued at $156,000 after buying an additional 24 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its position in shares of Ryder System by 94.7% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 2,550 shares of the transportation company’s stock valued at $183,000 after buying an additional 1,240 shares during the last quarter. Institutional investors own 89.54% of the company’s stock.
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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