Yahoo Finance Ryder (R) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Ryder (R) closed at $83.18, marking a -1.07% move from the previous day. This change lagged the S&P 500's 0.62% gain on the day. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, lost 5.66%.
Prior to today's trading, shares of the truck leasing company had gained 3.08% over the past month. This has outpaced the Transportation sector's gain of 1.42% and lagged the S&P 500's gain of 3.44% in that time.
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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3 billion, down 1.08% from the year-ago period.
R's full-year Zacks Consensus Estimates are calling for earnings of $11.82 per share and revenue of $12.17 billion. These results would represent year-over-year changes of -27.79% and +1.31%, respectively.
Any recent changes to analyst estimates for Ryder should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.14% higher. Ryder is currently a Zacks Rank #3 (Hold).
Investors should also note Ryder's current valuation metrics, including its Forward P/E ratio of 7.11. Its industry sports an average Forward P/E of 10.98, 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 163, which puts it in the bottom 36% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Ryder System, Inc. (R) : Free Stock Analysis Report
