Ryder (R) Dips More Than Broader Markets: What You Should Know
Ryder (R) closed at $81.01 in the latest trading session, marking a -1.75% move from the prior day. This move lagged the S&P 500's daily loss of 1.08%. Meanwhile, the Dow lost 0.81%, and the Nasdaq, a tech-heavy index, added 0.22%.
Heading into today, shares of the truck leasing company had gained 15.38% over the past month, outpacing the Transportation sector's gain of 1.12% and the S&P 500's gain of 1.03% in that time.
Wall Street will be looking for positivity from Ryder as it approaches its next earnings report date. This is expected to be July 27, 2022. The company is expected to report EPS of $4.10, up 70.83% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.85 billion, up 19.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.38 per share and revenue of $11.47 billion, which would represent changes of +50.1% and +18.74%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Ryder. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.73% higher. Ryder is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Ryder currently has a Forward P/E ratio of 5.74. This valuation marks a discount compared to its industry's average Forward P/E of 18.97.
The Transportation - Equipment and Leasing industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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 System, Inc. (R) : Free Stock Analysis Report
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