Ryder Revises Earnings Outlook
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FBR Capital Cuts Price target on Ryder System (R) to $115 Following 3Q Pre-Announcement
October 13, 2015 6:50 AM EDTFBR Capital reiterated an Outperform rating on Ryder Systems (NYSE: R), and cut the price target to $115.00 (from $130.00), following the company's 3Q15 pre-announcement. Used truck sales slowed for Ryder, particularly in September, and sales for the quarter fell 7% below Ryder's projections. After a very robust 1H15, used truck pricing moderated back more in line with 2014 levels.
Analyst John Mims commented, "We are... More
Ryder System (R) Cuts Q3, FY15 EPS Outlook
October 12, 2015 4:18 PM EDTRyder System (NYSE: R) revised its earnings guidance for the third quarter and full-year 2015 due to lower than expected earnings growth in its Fleet Management Solutions (FMS) business segment. The revision is due to a temporary execution issue, related to record fleet growth, which the Company expects to resolve during the fourth quarter, and less robust demand conditions in used vehicle sales. Performance in Ryders Dedicated Transportation Solutions (DTS) and Supply Chain Solutions (SCS) business segments is expected to remain generally in line with the Companys previous forecast.
Commercial rental demand... More
