Standard & Poor’s Ratings Services cut its credit rating on Ryder System, Inc (NYSE:R), which provides transportation equipment leases, one notch nearer to junk territory, mentioning its sizable capital outlay plan.
The rating, which shows lower than average credit quality, was lower to triple-B from triple-B-plus and was detached from watch for downgrade. Standard & Poor reported that the guidance is stable, showing the forecasts that utilization and pricing will get better, showing in modest earnings expansion for the corporation and stable credit metric.
S&P credit analyst Anita Ogbara reported that the downgrade shows deterioration in Ryder’s financial profile because of debt-financed capital costs and superior unfunded pension liabilities.
Ryder previous month announced a boost in its Q2 earnings as it benefited from low maintenance expenses and higher pricing.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Avis Budget Group Inc (NASDAQ:CAR) fell -1.78% to settle at $15.42, XPO Logistics Inc (NYSE:XPO) moved down -1.31% to end at $14.35 while Celadon Group, Inc (NYSE:CGI) jumped +0.32% to finish on Friday at $15.44.
Ryder System, Inc (NYSE:R) last session volume of 411,455.00 shares was lower than its average volume of 872,854.00 shares. The stock after opening at $40.31 hit high price of $40.90 and then closed at $40.83 by scoring +0.67%.
R generated revenue of 6.21 billion in the following twelve months and earned $183.48 million. The Company showed a positive 3.00% in the net profit margin and as well as in its operating margin which remained 4.54%. Company’s annual sales growth for the past five year was -0.83%.
The R past twelve months price to sales ratio was +0.34 and price to cash ratio remained 28.77. As far as the returns are concern, the R return on equity was recorded as 12.90% and increased 2.86% return on investment while its return on asset stayed at 2.39%.
The stock showed weekly upbeat performance of +3.68% which was maintained for the month at +22.25%. Likewise the negative performance for the quarter was recorded as -9.11% and for the year was -8.29% while the YTD performance remained at -22.23%.
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