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Ryder System, Inc.

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Ryder System's lackluster guidance provided for the third quarter of 2016 is disappointing. The company also trimmed its earnings guidance for full-year 2016. Ryder now expects 2016 adjusted earnings in the band of $5.90 to $6.05 per share (old guidance: $6.10 to $6.30). Lower rental demand coupled with soft used vehicle volumes led to the dull view.  Another concern is that bulk of revenues comes from Fleet Management Solutions division. We are however encouraged by Ryder's efforts to reward its shareholders. In Jul 2016, the company hiked its quarterly cash dividend by 7.3% to $0.44 per share. We also remain positive of further grwoth potential for the company's Dedicated Transportation Solutions business which saw a 16% growth in the second quarter.

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