In its upcoming report, Ryder (R) is predicted by Wall Street analysts to post quarterly earnings of $4.17 per share, reflecting an increase of 16.8% compared to the same period last year. Revenues are forecasted to be $3.4 billion, representing a year-over-year increase of 7.2%.
The consensus EPS estimate for the quarter has been revised 0.2% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Ryder metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts expect 'Operating Revenue- Fleet Management Solutions' to come in at $1.32 billion. The estimate points to a change of +2.8% from the year-ago quarter.
The average prediction of analysts places 'Operating Revenue- Dedicated Transportation Solutions' at $461.03 million. The estimate indicates a change of +0.7% from the prior-year quarter.
It is projected by analysts that the 'Operating Revenue- Supply Chain Solutions' will reach $1.11 billion. The estimate suggests a change of +7.2% year over year.
The collective assessment of analysts points to an estimated 'Revenues- Supply Chain Solutions (SCS)- Subcontracted transportation and fuel' of $388.56 million. The estimate indicates a change of +12.3% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenues- Fleet Management Solutions' should come in at $1.58 billion. The estimate indicates a year-over-year change of +8.1%.
The consensus estimate for 'Revenues- Fleet Management Solutions- SelectCare and other' stands at $174.77 million. The estimate suggests a change of +5.9% year over year.
The combined assessment of analysts suggests that 'Revenues- Dedicated Transportation Solutions' will likely reach $609.87 million. The estimate indicates a year-over-year change of +7%.
The consensus among analysts is that 'Revenues- Fleet Management Solutions- Commercial rental' will reach $241.69 million. The estimate points to a change of -0.1% from the year-ago quarter.
Analysts' assessment points toward 'Revenues- Fleet Management Solutions- ChoiceLease' reaching $901.21 million. The estimate indicates a change of +3% from the prior-year quarter.
Analysts predict that the 'Revenues- Fleet Management Solutions- Fuel services' will reach $265.99 million. The estimate suggests a change of +45.4% year over year.
Analysts forecast 'Revenues- Supply Chain Solutions' to reach $1.50 billion. The estimate suggests a change of +8.5% year over year.
Based on the collective assessment of analysts, 'Commercial rental - Rental Utilization - Power Units' should arrive at 75.0%. Compared to the current estimate, the company reported 70.0% in the same quarter of the previous year.
View all Key Company Metrics for Ryder here>>>Over the past month, shares of Ryder have returned -0.5% versus the Zacks S&P 500 composite's +0.7% change. Currently, R carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Ryder System, Inc. (R): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).