Ryder System Cuts FY Outlook, Shares Fall 6%

The business’s revenue for the quarter was down 1.3% on a year-over-year basis. The higher price target estimate is at $130 and the lower price target estimate is expected at $100 according to 6 Analyst. The company has a 50-day moving average price of $78.56 and a 200 day moving average price of $89.31.

For the third quarter, Ryder now expects comparable earnings of $1.72 to $1.74 per share, down from prior outlook of $1.82 to $1.87 per share. Stifel Nicolaus upgraded shares of Ryder System from a hold rating to a buy rating and set a $104.00 price objective on the stock in a report on Monday, June 29th. Ryder System Inc (R) reported last quarter earnings on July 23. Ryder System Inc (R) has a price to earnings ratio of 16.26 versus Services sector average of 18.78. The daily volume was measured at 2,523,186 shares. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. The top line was hurt by a 3% decline in total revenues at the Fleet Management Solutions unit.

Ryder Systems also provided fourth quarter earnings guidance between $1.72 and $1.82 per share, while full year earnings guidance was lowered to a range of $6.17 to $6.29 per share versus its previous $6.45 to $6.55 per share expectations. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Ryder System, Inc. has a 52 week low of $68.24 and a 52 week high of $100.64. In a research note released to the investors, Raymond James upgrades its rating on Ryder System, Inc. S&P Research maintained the stock on October 14 with “Buy” rating. They now have a $105.00 price target on the stock, up previously from $81.32. The stock has an average rating of Buy and a consensus target price of $103.86. During the same period in the prior year, the business earned $1.44 EPS.

Ryder System, Inc. (NYSE:R) should head towards $110.5 per share according to 6 Analysts in consensus.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, November 23rd will be given a $0.41 dividend. The ex-dividend date is Thursday, November 19th.

Ryder System, Inc.is engaged in offering commercial fleet management and supply chain solutions.

The company expects the performance of its Dedicated Transportation Solutions and Supply Chain Solutions business segments to remain generally in line with its previous forecast. The Fleet Management Solutions segment supplies service leasing, commercial lease, contract care, and contract-associated care of tractors, trucks and trailers to customers in the USA, Canada and also the UK.

Ryder System, Inc. provides a continuum of leading-edge logistics, supply chain and transportation management solutions worldwide. Additionally, Ryder offers comprehensive supply chain solutions, lead logistics management services and e-Commerce solutions that support clients entire supply chains.