Analysts predict that Ryder System, Inc. (NYSE:R) will report $2.22 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Ryder System’s earnings, with estimates ranging from $2.19 billion to $2.27 billion. Ryder System posted sales of $2.16 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The company is expected to issue its next quarterly earnings report on Friday, October 25th.

On average, analysts expect that Ryder System will report full-year sales of $8.95 billion for the current year, with estimates ranging from $8.91 billion to $9.05 billion. For the next financial year, analysts forecast that the business will report sales of $9.27 billion, with estimates ranging from $9.14 billion to $9.45 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Ryder System.

Ryder System (NYSE:R) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.40. Ryder System had a net margin of 3.60% and a return on equity of 11.46%. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the business posted $1.42 earnings per share. Ryder System’s revenue for the quarter was up 7.5% compared to the same quarter last year.

A number of equities analysts have recently weighed in on the stock. KeyCorp dropped their price target on shares of Ryder System from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, July 18th. Loop Capital downgraded shares of Ryder System from a “buy” rating to a “hold” rating and dropped their price target for the stock from $70.00 to $62.00 in a research note on Tuesday, July 2nd. SunTrust Banks dropped their price target on shares of Ryder System to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. TheStreet downgraded shares of Ryder System from a “b-” rating to a “c+” rating in a research note on Thursday, May 30th. Finally, ValuEngine downgraded shares of Ryder System from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $71.57.

In other Ryder System news, Director Luis P. Nieto, Jr. sold 2,293 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $46.67, for a total transaction of $107,014.31. Following the transaction, the director now directly owns 23,757 shares of the company’s stock, valued at $1,108,739.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Atria Investments LLC bought a new stake in Ryder System during the second quarter valued at about $7,124,000. BlackRock Inc. boosted its holdings in Ryder System by 7.1% during the second quarter. BlackRock Inc. now owns 6,643,848 shares of the transportation company’s stock valued at $387,337,000 after acquiring an additional 440,942 shares during the period. Cresset Asset Management LLC boosted its holdings in Ryder System by 189.8% during the second quarter. Cresset Asset Management LLC now owns 3,654 shares of the transportation company’s stock valued at $213,000 after acquiring an additional 2,393 shares during the period. Luminus Management LLC boosted its holdings in Ryder System by 22.6% during the second quarter. Luminus Management LLC now owns 2,269,889 shares of the transportation company’s stock valued at $132,335,000 after acquiring an additional 418,038 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Ryder System by 0.5% during the second quarter. Royal Bank of Canada now owns 84,218 shares of the transportation company’s stock valued at $4,911,000 after acquiring an additional 418 shares during the period. Institutional investors own 88.63% of the company’s stock.

Shares of NYSE R traded up $0.08 during mid-day trading on Tuesday, reaching $53.33. The company had a trading volume of 512,865 shares, compared to its average volume of 568,198. Ryder System has a twelve month low of $44.80 and a twelve month high of $79.95. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.56 and a current ratio of 0.59. The stock has a market capitalization of $2.88 billion, a PE ratio of 9.23 and a beta of 1.83. The stock’s 50 day moving average is $50.23 and its 200-day moving average is $57.12.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 16th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 4.20%. This is an increase from Ryder System’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Friday, August 16th. Ryder System’s dividend payout ratio is presently 38.69%.

Ryder System Company Profile

Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). 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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Earnings History and Estimates for Ryder System (NYSE:R)

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