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

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

The transportation company reported $2.14 earnings per share (EPS) 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 analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.81 EPS.

Ryder System Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Ryder System from $100.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. StockNews.com raised Ryder System from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Ryder System from $120.00 to $126.00 and gave the stock a “neutral” rating in a report on Wednesday. Vertical Research lowered Ryder System from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Wednesday, January 10th. Finally, Robert W. Baird restated a “buy” rating and set a $140.00 target price on shares of Ryder System in a research report on Wednesday, January 3rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $123.71.

Insider Buying and Selling at Ryder System

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of Ryder System stock in a transaction on 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 owns 12,396 shares in the company, valued at approximately $1,406,698.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Ryder System

A number of institutional investors and hedge funds have recently made changes to their positions in R. Wellington Management Group LLP raised its position in shares of Ryder System by 1,051.0% during the third quarter. Wellington Management Group LLP now owns 2,551,559 shares of the transportation company’s stock worth $272,889,000 after acquiring an additional 2,329,880 shares during the last quarter. Norges Bank bought a new stake in shares of Ryder System during the fourth quarter worth $86,647,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Ryder System during the third quarter worth $25,233,000. LSV Asset Management grew its stake in shares of Ryder System by 13.5% during the third quarter. LSV Asset Management now owns 1,570,462 shares of the transportation company’s stock worth $167,961,000 after purchasing an additional 187,174 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Ryder System by 29.1% during the fourth quarter. Sei Investments Co. now owns 756,302 shares of the transportation company’s stock worth $87,024,000 after purchasing an additional 170,650 shares during the period. Institutional investors own 87.47% of the company’s stock.

Ryder System Trading Up 0.2 %

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

Ryder System Company Profile

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.