Ryder System, Inc. (NYSE:R) Expected to Announce Earnings of $2.06 Per Share

Wall Street analysts forecast that Ryder System, Inc. (NYSE:R) will report earnings per share (EPS) of $2.06 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Ryder System’s earnings, with estimates ranging from $2.00 to $2.15. Ryder System posted earnings per share of $1.21 in the same quarter last year, which indicates a positive year-over-year growth rate of 70.2%. The business is expected to report its next earnings results on Wednesday, October 27th.

On average, analysts expect that Ryder System will report full year earnings of $7.48 per share for the current fiscal year, with EPS estimates ranging from $7.35 to $7.60. For the next financial year, analysts expect that the company will report earnings of $7.93 per share, with EPS estimates ranging from $7.25 to $8.30. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Ryder System.

Ryder System (NYSE:R) last posted its quarterly earnings data on Wednesday, July 28th. The transportation company reported $2.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $1.07. Ryder System had a return on equity of 12.96% and a net margin of 2.91%. The company had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.22 billion.

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Ryder System from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, July 29th. Stifel Nicolaus assumed coverage on Ryder System in a research report on Monday, June 21st. They issued a “hold” rating for the company. Robert W. Baird restated a “buy” rating and issued a $90.00 price target on shares of Ryder System in a research report on Sunday, August 1st. Finally, Zacks Investment Research upgraded Ryder System from a “hold” rating to a “strong-buy” rating and set a $88.00 price target for the company in a research report on Tuesday, June 15th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $81.67.

NYSE:R traded up $2.48 during trading hours on Wednesday, hitting $81.55. 9,799 shares of the stock were exchanged, compared to its average volume of 522,350. Ryder System has a 52-week low of $40.32 and a 52-week high of $89.65. The firm’s fifty day moving average price is $76.19 and its 200 day moving average price is $77.10. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The company has a market cap of $4.39 billion, a P/E ratio of 16.53 and a beta of 1.98.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 17th. Shareholders of record on Monday, August 23rd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.84%. This is a boost from Ryder System’s previous quarterly dividend of $0.56. The ex-dividend date is Friday, August 20th. Ryder System’s dividend payout ratio is -859.26%.

In other Ryder System news, SVP Rajeev Ravindran sold 2,000 shares of the company’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of $81.40, for a total transaction of $162,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. The PNC Financial Services Group Inc. increased its holdings in Ryder System by 4.5% in the first quarter. The PNC Financial Services Group Inc. now owns 2,920 shares of the transportation company’s stock valued at $220,000 after buying an additional 127 shares during the last quarter. Profund Advisors LLC increased its holdings in Ryder System by 4.5% in the second quarter. Profund Advisors LLC now owns 3,011 shares of the transportation company’s stock valued at $223,000 after buying an additional 131 shares during the last quarter. Tocqueville Asset Management L.P. increased its holdings in Ryder System by 2.7% in the second quarter. Tocqueville Asset Management L.P. now owns 5,150 shares of the transportation company’s stock valued at $383,000 after buying an additional 135 shares during the last quarter. Integrated Investment Consultants LLC increased its holdings in Ryder System by 3.3% in the second quarter. Integrated Investment Consultants LLC now owns 4,773 shares of the transportation company’s stock valued at $355,000 after buying an additional 154 shares during the last quarter. Finally, State of Michigan Retirement System increased its holdings in Ryder System by 1.0% in the first quarter. State of Michigan Retirement System now owns 19,845 shares of the transportation company’s stock valued at $1,501,000 after buying an additional 200 shares during the last quarter. 87.01% of the stock is currently owned by institutional investors and hedge funds.

About Ryder System

Ryder System, Inc engages in the provision of transportation and supply chain management solutions. It operates through the following segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), Dedicated Transportation Solutions (DTS), and Central Support Services (CSS). The FMS segment offers full service leasing and leasing with flexible maintenance options, commercial rental, and contract or transactional maintenance services of trucks, tractors, and trailers.

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