Ryder Systems (R) Earnings Preview - KeyBanc

KeyBanc analyst Todd Fowler reiterated a Sector Weight rating on Ryder Systems (NYSE: R) to reflect improved rental utilization and a brighter used vehicle outlook. Along with subsiding depreciation headwinds and improved DTS/SCS performance, we see a notable earnings step-up (revised 2021E of $0.10 from breakeven; 4Q20E of $1.20 from $1.09, ex ~$0.45 of pandemic bonus; 2021E to $3.90 from $3.25).

The analyst stated "With fundamentals the strongest in several years, we are incrementally constructive and believe significant residual adjustments in recent years clear a path for more normalized gains going forward. That said, we would wait for a better entry point as we see 2021
guidance (if provided) largely in line and valuation fair."

For an analyst ratings summary and ratings history on Ryder Systems click here. For more ratings news on Ryder Systems click here.

Shares of Ryder Systems closed at $67.25 yesterday.

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