Ryder System, Inc. (NYSE:R) declared a quarterly dividend on Thursday, July 11th, RTT News reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.56 per share by the transportation company on Friday, September 20th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.75%. 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 increased its dividend payment by an average of 10.8% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Ryder System has a dividend payout ratio of 38.8% meaning its dividend is sufficiently covered by earnings. 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%.
R stock opened at $47.18 on Thursday. Ryder System has a fifty-two week low of $44.80 and a fifty-two week high of $79.95. The stock’s 50 day moving average price is $54.73. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.59 and a quick ratio of 0.56. The stock has a market cap of $2.54 billion, a P/E ratio of 8.15 and a beta of 1.81.
A number of analysts have recently commented on the company. Zacks Investment Research raised Ryder System from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. SunTrust Banks dropped 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. Loop Capital cut 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 report on Tuesday, July 2nd. KeyCorp dropped 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. Finally, ValuEngine cut Ryder System from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Ryder System currently has an average rating of “Buy” and an average target price of $73.50.
In related news, EVP Karen M. Jones sold 1,767 shares of the company’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 value of $92,255.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.
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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