Ryder System, Inc. (NYSE:R) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 3,390,000 shares, a decline of 6.9% from the August 15th total of 3,640,000 shares. Approximately 6.4% of the shares of the company are short sold. Based on an average daily volume of 528,600 shares, the short-interest ratio is currently 6.4 days.
NYSE:R traded up $0.91 during mid-day trading on Monday, hitting $51.77. The company had a trading volume of 285,323 shares, compared to its average volume of 566,074. Ryder System has a fifty-two week low of $44.80 and a fifty-two week high of $73.97. The business’s fifty day moving average is $49.74 and its two-hundred day moving average is $56.39. 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 firm has a market cap of $2.76 billion, a P/E ratio of 8.94 and a beta of 1.83.
Ryder System (NYSE:R) last released its earnings results on Tuesday, July 30th. The transportation company reported $1.40 earnings per share for the quarter, meeting the consensus estimate of $1.40. Ryder System had a return on equity of 11.46% and a net margin of 3.60%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the firm posted $1.42 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts forecast that Ryder System will post 5.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 16th were issued a $0.56 dividend. This is an increase from Ryder System’s previous quarterly dividend of $0.54. This represents a $2.24 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Friday, August 16th. Ryder System’s dividend payout ratio is 38.69%.
In other news, Director Luis P. Nieto, Jr. sold 2,293 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $46.67, for a total transaction of $107,014.31. Following the sale, the director now directly owns 23,757 shares in the company, valued at $1,108,739.19. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Retirement Systems of Alabama increased its holdings in shares of Ryder System by 0.3% in the second quarter. Retirement Systems of Alabama now owns 69,328 shares of the transportation company’s stock worth $4,042,000 after acquiring an additional 183 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Ryder System by 3.8% during the first quarter. Nordea Investment Management AB now owns 67,335 shares of the transportation company’s stock worth $4,173,000 after buying an additional 2,434 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Ryder System during the first quarter worth about $510,000. Allstate Corp bought a new position in shares of Ryder System during the first quarter worth about $207,000. Finally, Westpac Banking Corp grew its holdings in shares of Ryder System by 15.5% during the second quarter. Westpac Banking Corp now owns 9,713 shares of the transportation company’s stock worth $566,000 after buying an additional 1,300 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.
A number of analysts have weighed in on R shares. KeyCorp lowered their price target on Ryder System from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, July 18th. Loop Capital cut Ryder System from a “buy” rating to a “hold” rating and lowered their price target for the company from $70.00 to $62.00 in a research report on Tuesday, July 2nd. ValuEngine cut Ryder System from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 31st. Finally, SunTrust Banks lowered their price target on Ryder System to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Ryder System currently has a consensus rating of “Buy” and a consensus price target of $71.57.
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.
Further Reading: Dividend Yield
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