Ryder System, Inc. (NYSE:R) announced a quarterly dividend on Thursday, July 9th, RTT News reports. Shareholders of record on Monday, August 24th will be paid a dividend of 0.56 per share by the transportation company on Friday, September 18th. This represents a $2.24 annualized dividend and a yield of 5.96%.
Ryder System has raised its dividend payment by an average of 266.7% per year over the last three years and has raised its dividend every year for the last 11 years. Ryder System has a dividend payout ratio of -146.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Ryder System to earn $2.32 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 96.6%.
Shares of NYSE:R opened at $37.58 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 3.26. The firm has a market cap of $2.02 billion, a PE ratio of 15.15 and a beta of 2.04. The company’s 50 day moving average price is $36.81 and its two-hundred day moving average price is $38.66. Ryder System has a 12-month low of $22.62 and a 12-month high of $60.55.
Ryder System (NYSE:R) last released its earnings results on Wednesday, April 29th. The transportation company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.53). Ryder System had a positive return on equity of 5.32% and a negative net margin of 2.01%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the company posted $1.11 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, research analysts expect that Ryder System will post -1.98 EPS for the current year.
A number of analysts have recently weighed in on the stock. ValuEngine raised shares of Ryder System from a “sell” rating to a “hold” rating in a report on Thursday, April 9th. TheStreet cut Ryder System from a “c” rating to a “d+” rating in a research note on Thursday, April 30th. SunTrust Banks boosted their price target on Ryder System from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Wolfe Research downgraded Ryder System from an “outperform” rating to a “market perform” rating in a research note on Friday, March 27th. Finally, Robert W. Baird increased their price objective on shares of Ryder System from $37.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Ryder System presently has an average rating of “Hold” and an average target price of $51.00.
In other Ryder System news, Director Luis P. Nieto, Jr. sold 4,149 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $32.55, for a total transaction of $135,049.95. Following the sale, the director now owns 28,857 shares of the company’s stock, valued at $939,295.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Karen M. Jones sold 1,413 shares of Ryder System stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $34.80, for a total value of $49,172.40. Following the completion of the transaction, the chief marketing officer now directly owns 6,246 shares of the company’s stock, valued at $217,360.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,755 shares of company stock worth $259,223. 2.60% of the stock is owned by corporate insiders.
About Ryder System
Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). 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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