Ryder System (NYSE:R) Trading 8.9% Higher After Better-Than-Expected Earnings

Ryder System, Inc. (NYSE:R)’s stock price rose 8.9% on Tuesday following a better than expected earnings announcement. The stock traded as high as $118.70 and last traded at $118.70. Approximately 49,265 shares were traded during trading, a decline of 80% from the average daily volume of 250,951 shares. The stock had previously closed at $109.00.

The transportation company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.43. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.06 billion. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.81 EPS.

Ryder System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s payout ratio is 32.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on R. Vertical Research cut Ryder System from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Wednesday, January 10th. Stephens increased their price target on Ryder System from $113.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday. Robert W. Baird reaffirmed a “buy” rating and set a $140.00 target price on shares of Ryder System in a research report on Wednesday, January 3rd. StockNews.com raised Ryder System from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company raised their target price on Ryder System from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.71.

Insider Transactions at Ryder System

In other news, CMO Karen M. Jones sold 7,737 shares of Ryder System stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total value of $877,994.76. Following the completion of the transaction, the chief marketing officer now directly owns 12,396 shares of the company’s stock, valued at approximately $1,406,698.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.10% of the company’s stock.

Institutional Trading of Ryder System

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Ryder System by 34.9% in the 4th quarter. Wellington Management Group LLP now owns 3,442,545 shares of the transportation company’s stock valued at $396,099,000 after buying an additional 890,986 shares during the period. Earnest Partners LLC grew its stake in shares of Ryder System by 2.5% in the 3rd quarter. Earnest Partners LLC now owns 1,666,621 shares of the transportation company’s stock valued at $178,245,000 after buying an additional 40,086 shares during the period. LSV Asset Management boosted its stake in Ryder System by 3.8% during the 4th quarter. LSV Asset Management now owns 1,629,618 shares of the transportation company’s stock valued at $187,504,000 after purchasing an additional 59,156 shares during the last quarter. AQR Capital Management LLC boosted its stake in Ryder System by 12.3% during the 3rd quarter. AQR Capital Management LLC now owns 845,253 shares of the transportation company’s stock valued at $90,400,000 after purchasing an additional 92,760 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Ryder System by 7.9% during the 3rd quarter. American Century Companies Inc. now owns 775,382 shares of the transportation company’s stock valued at $82,927,000 after purchasing an additional 56,851 shares during the last quarter. 87.47% of the stock is currently owned by institutional investors and hedge funds.

Ryder System Price Performance

The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 14.00 and a beta of 1.40. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.62 and a current ratio of 1.11. The business has a 50 day simple moving average of $114.49 and a 200-day simple moving average of $110.66.

About Ryder System

Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.