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Ryder (R) Stock Sinks As Market Gains: What You Should Know
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Ryder (R - Free Report) closed the most recent trading day at $81.35, moving -0.1% from the previous trading session. This move lagged the S&P 500's daily gain of 0.08%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 0.61%.
Coming into today, shares of the truck leasing company had gained 2.63% in the past month. In that same time, the Transportation sector gained 2.95%, while the S&P 500 gained 6.1%.
Investors will be hoping for strength from Ryder as it approaches its next earnings release, which is expected to be July 26, 2023. On that day, Ryder is projected to report earnings of $3.03 per share, which would represent a year-over-year decline of 31.6%. Our most recent consensus estimate is calling for quarterly revenue of $3 billion, down 1.08% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.82 per share and revenue of $12.17 billion, which would represent changes of -27.79% and +1.31%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Ryder. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.24% higher. Ryder is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Ryder's current valuation metrics, including its Forward P/E ratio of 6.89. Its industry sports an average Forward P/E of 11.04, so we one might conclude that Ryder is trading at a discount comparatively.
The Transportation - Equipment and Leasing industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 116, which puts it in the top 47% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Ryder (R) Stock Sinks As Market Gains: What You Should Know
Ryder (R - Free Report) closed the most recent trading day at $81.35, moving -0.1% from the previous trading session. This move lagged the S&P 500's daily gain of 0.08%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 0.61%.
Coming into today, shares of the truck leasing company had gained 2.63% in the past month. In that same time, the Transportation sector gained 2.95%, while the S&P 500 gained 6.1%.
Investors will be hoping for strength from Ryder as it approaches its next earnings release, which is expected to be July 26, 2023. On that day, Ryder is projected to report earnings of $3.03 per share, which would represent a year-over-year decline of 31.6%. Our most recent consensus estimate is calling for quarterly revenue of $3 billion, down 1.08% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.82 per share and revenue of $12.17 billion, which would represent changes of -27.79% and +1.31%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Ryder. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.24% higher. Ryder is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Ryder's current valuation metrics, including its Forward P/E ratio of 6.89. Its industry sports an average Forward P/E of 11.04, so we one might conclude that Ryder is trading at a discount comparatively.
The Transportation - Equipment and Leasing industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 116, which puts it in the top 47% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.