Ryder Hosts 2024 Investor Day; Boosts Long-Term ROE Target From High Teens To Low Twenties Over The Cycle
Portfolio Pulse from Benzinga Newsdesk
Ryder has announced an increase in its long-term adjusted return on equity (ROE) target to a range of 20% - 22% over the cycle, up from the previous target of 17% - 19%, during its 2024 Investor Day.
June 13, 2024 | 11:56 am
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Ryder has increased its long-term adjusted ROE target to 20%-22% from the previous 17%-19% during its 2024 Investor Day, indicating a positive outlook for the company's financial performance.
The increase in the long-term ROE target suggests that Ryder is expecting improved financial performance and profitability. This is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
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