Brokerages Anticipate Ryder System, Inc. (NYSE:R) Will Announce Quarterly Sales of $2.19 Billion

Brokerages expect Ryder System, Inc. (NYSE:R) to announce sales of $2.19 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Ryder System’s earnings, with the highest sales estimate coming in at $2.28 billion and the lowest estimate coming in at $2.10 billion. Ryder System reported sales of $1.90 billion in the same quarter last year, which indicates a positive year over year growth rate of 15.3%. The firm is expected to report its next earnings report on Wednesday, August 4th.

On average, analysts expect that Ryder System will report full-year sales of $8.97 billion for the current financial year, with estimates ranging from $8.84 billion to $9.16 billion. For the next financial year, analysts forecast that the firm will post sales of $9.29 billion, with estimates ranging from $9.09 billion to $9.56 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Ryder System.

Ryder System (NYSE:R) last issued its quarterly earnings results on Wednesday, April 28th. The transportation company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.51. Ryder System had a negative return on equity of 0.39% and a negative net margin of 2.37%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the company earned ($1.38) earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis.

A number of analysts have recently commented on the company. Truist boosted their price objective on Ryder System from $85.00 to $90.00 in a research report on Thursday, April 29th. Truist Securities boosted their price objective on Ryder System from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 21st. JPMorgan Chase & Co. boosted their price objective on Ryder System from $59.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 12th. TheStreet upgraded Ryder System from a “c” rating to a “b-” rating in a research report on Wednesday, April 28th. Finally, Vertical Research initiated coverage on Ryder System in a research report on Thursday, April 1st. They set a “buy” rating and a $93.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ryder System has a consensus rating of “Buy” and a consensus target price of $71.00.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Peregrine Capital Management LLC lifted its stake in shares of Ryder System by 71.8% in the 4th quarter. Peregrine Capital Management LLC now owns 257,093 shares of the transportation company’s stock valued at $15,878,000 after purchasing an additional 107,476 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Ryder System by 34.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 39,681 shares of the transportation company’s stock valued at $3,002,000 after purchasing an additional 10,240 shares during the last quarter. Morgan Stanley lifted its stake in shares of Ryder System by 112.1% in the 4th quarter. Morgan Stanley now owns 644,913 shares of the transportation company’s stock valued at $39,830,000 after purchasing an additional 340,893 shares during the last quarter. Community Bank of Raymore lifted its stake in shares of Ryder System by 2.8% in the 4th quarter. Community Bank of Raymore now owns 103,275 shares of the transportation company’s stock valued at $4,973,000 after purchasing an additional 2,782 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of Ryder System by 16.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 122,079 shares of the transportation company’s stock valued at $7,540,000 after purchasing an additional 17,546 shares during the last quarter. 86.28% of the stock is currently owned by institutional investors.

R stock traded up $1.65 during trading on Thursday, hitting $81.92. 546,436 shares of the company traded hands, compared to its average volume of 477,303. The stock’s 50-day simple moving average is $76.22 and its 200 day simple moving average is $65.91. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.81 and a quick ratio of 0.78. The company has a market cap of $4.41 billion, a PE ratio of -21.22 and a beta of 1.98. Ryder System has a 1 year low of $27.93 and a 1 year high of $81.98.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Shareholders of record on Tuesday, February 16th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Friday, February 12th. Ryder System’s dividend payout ratio (DPR) is currently 45.16%.

About Ryder System

Ryder System, Inc operates as a logistics and transportation company worldwide. The company 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, 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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