Ryder System, Inc. (NYSE:R) Plans Dividend Increase – $0.56 Per Share

Ryder System, Inc. (NYSE:R) declared a quarterly dividend on Thursday, July 11th, RTT News reports. Investors of record on Friday, August 16th will be paid a dividend of 0.56 per share by the transportation company on Friday, September 20th. This represents a $2.24 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Friday, August 16th. This is a boost from Ryder System’s previous quarterly dividend of $0.54.

Ryder System has raised its dividend payment by an average of 10.8% per year over the last three years and has increased its dividend every year for the last 10 years. Ryder System has a dividend payout ratio of 38.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ryder System to earn $6.20 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 36.1%.

Shares of R opened at $48.22 on Wednesday. Ryder System has a twelve month low of $44.80 and a twelve month high of $79.95. The firm has a 50 day simple moving average of $54.88. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 8.33 and a beta of 1.81. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.59 and a quick ratio of 0.56.

Ryder System (NYSE:R) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.40. Ryder System had a return on equity of 11.46% and a net margin of 3.60%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Ryder System will post 5.69 EPS for the current fiscal year.

A number of brokerages have weighed in on R. ValuEngine lowered Ryder System from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 31st. Loop Capital lowered Ryder System from a “buy” rating to a “hold” rating and lowered their price objective for the company from $70.00 to $62.00 in a report on Tuesday, July 2nd. TheStreet lowered Ryder System from a “b-” rating to a “c+” rating in a report on Thursday, May 30th. KeyCorp lowered their price objective on Ryder System from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, July 18th. Finally, SunTrust Banks lowered their price objective on Ryder System to $65.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Ryder System currently has a consensus rating of “Buy” and an average price target of $73.50.

In other news, EVP Karen M. Jones sold 1,767 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $52.21, for a total transaction of $92,255.07. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is owned by insiders.

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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Dividend History for Ryder System (NYSE:R)

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