Ryder (R) Shares Fall 18% on Q1 Warning
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Shares of Ryder Systems (NYSE: R) are getting clobbered today following a Q1 warning issued this morning before the market opened. Ryder now sees EPS for the quarter of $0.22-$0.24, sharply lower than the rental company's prior guidance of $0.40-$0.50 and well below the Street estimate of $0.46.
Ryder's stock price slumped more than 9% at the open and has not stopped going down since. Shares most recently traded at $24.03, down nearly 19% from yesterday's closing price.
Notably, the stock is moving lower on extremely heavy volume: shares have already traded hands more than 2.1 million times, which compares to its average daily volume of just 1.6 million shares.
Ryder's stock price slumped more than 9% at the open and has not stopped going down since. Shares most recently traded at $24.03, down nearly 19% from yesterday's closing price.
Notably, the stock is moving lower on extremely heavy volume: shares have already traded hands more than 2.1 million times, which compares to its average daily volume of just 1.6 million shares.
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