Ryder System (NYSE:R) released its earnings results on Friday, February 16th. The transportation company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.01, Bloomberg Earnings reports. Ryder System had a net margin of 10.78% and a return on equity of 10.47%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Ryder System updated its Q1 guidance to 0.83-0.90 EPS and its FY18 guidance to $5.40-5.70 EPS.
Shares of Ryder System (NYSE:R) opened at $76.06 on Tuesday. The firm has a market cap of $4,052.78, a PE ratio of 16.92, a P/E/G ratio of 0.91 and a beta of 1.52. Ryder System has a 1-year low of $62.52 and a 1-year high of $90.26. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.66 and a quick ratio of 0.62.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.52 per share. This is an increase from Ryder System’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.08 annualized dividend and a dividend yield of 2.73%. Ryder System’s payout ratio is 13.97%.
A number of hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its position in Ryder System by 24.9% in the second quarter. The Manufacturers Life Insurance Company now owns 87,298 shares of the transportation company’s stock worth $6,284,000 after acquiring an additional 17,406 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Ryder System by 9.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 25,412 shares of the transportation company’s stock worth $1,829,000 after acquiring an additional 2,204 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Ryder System by 1,152.2% in the second quarter. Ameritas Investment Partners Inc. now owns 16,028 shares of the transportation company’s stock worth $1,154,000 after acquiring an additional 14,748 shares in the last quarter. Shell Asset Management Co. raised its position in Ryder System by 509.3% in the third quarter. Shell Asset Management Co. now owns 36,097 shares of the transportation company’s stock worth $3,248,000 after acquiring an additional 30,173 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Ryder System in the third quarter worth about $668,000. 93.38% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on R shares. Zacks Investment Research lowered shares of Ryder System from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Stifel Nicolaus reissued a “hold” rating and set a $86.00 price target on shares of Ryder System in a report on Thursday, January 18th. KeyCorp reissued an “overweight” rating and set a $95.00 price target (down previously from $100.00) on shares of Ryder System in a report on Tuesday, February 20th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $73.00 price target (down previously from $94.00) on shares of Ryder System in a report on Tuesday, February 20th. Finally, Buckingham Research reissued a “buy” rating and set a $90.00 price target (down previously from $101.00) on shares of Ryder System in a report on Tuesday, February 20th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $88.00.
Ryder System announced that its board has authorized 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 reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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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