The Miami based Ryder System, Inc (NYSE:R) stock plunged more than any stock in the Standard & Poor’s 500 index on Friday as investors responded to the truck leasing corporation’s lower earnings estimate for the Q2 and full year.
Ryder System late Thursday lowers its forecasts for both periods mostly because of reduced commercial truck rental demand. The company has more than 25,000 late-model automobiles for rent comprising vans and trucks.
The delay highlights the still-fragile state of the United States economy, as corporations do not require as many trucks to haul shipment.
Ryder System anticipates earning in the range of $3.65 to $3.85 a share for full fiscal year 2012, low from a previous range of $4.02 to $4.12. Analysts presently anticipate $3.86 a share.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Pacer International, Inc. (NASDAQ:PACR) fell -3.01% to settle at $5.47, J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) moved down -0.73% to end at $57.25 while Avis Budget Group Inc. (NASDAQ:CAR) plunged -0.68% to finish on Friday at $14.50.
Ryder System, Inc. (NYSE:R) last session volume of 5.67 million shares was lower than its average volume of 861,999.00 shares. The stock after opening at $36.02 hit high price of $36.95 and then closed at $35.44 by scoring -13.03%.
Ryder System generated revenue of 6.16 billion in the following twelve months and earned $177.58 million. The Company showed a positive 2.93% in the net profit margin and as well as in its operating margin which remained 4.60%. Company’s annual sales growth for the past five year was -0.83%.
The Ryder System past twelve months price to sales ratio was 0.29 and price to cash ratio remained 15.99. As far as the returns are concern, the Ryder System return on equity was recorded as 12.63% and increased 3.01% return on investment while its return on asset stayed at 2.38%.
The stock showed weekly downbeat performance of -15.90% which was maintained for the month at -18.32%. Likewise the negative performance for the quarter was recorded as -34.19% and for the year was -32.56% while the YTD performance remained at -32.50%.
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