The Miami, Florida-based Ryder System, Inc’s (NYSE:R) stock plunged almost 9% in extended trading on Thursday following the reported that the company cut its earnings guidance for the Q2 and FY 2012.
Ryder System reported that its Fleet Management Solutions unit throughout the Q2 was damaged by lower demand for the commercial rental product line, and actions taken to lower used vehicle inventories.
Ryder, which provides transportation and supply chain solutions, presently anticipates Q2 earnings in the range of $0.90 to $0.95 a share, down from its earlier forecast of $1.07 to $1.12 a share.
Thomson Reuters analysts survey presently forecasted earnings of $1.10 a share for the three months period. Analysts’ forecasts typically exclude special items.
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 -5.37% to settle at $5.64, J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) moved down -2.60% to end at $57.67 while Avis Budget Group Inc. (NASDAQ:CAR) plunged -1.82% to finish on Thursday at $14.60.
Ryder System, Inc. (NYSE:R) last session volume of 478,040 shares was lower than its average volume of 698,804.00 shares. The stock after opening at $42.25 hit high price of $42.45 and then closed at $40.75 by scoring -3.91%.
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 0.34 and price to cash ratio remained 18.39. 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 -0.95% which was maintained for the month at -3.91%. Likewise the negative performance for the quarter was recorded as -23.73% and for the year was -21.95% while the YTD performance remained at -22.38%.
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