United Parcel Service (NYSE:UPS) Posts Earnings Results

United Parcel Service (NYSE:UPS) announced its earnings results on Thursday. The transportation company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.11, Briefing.com reports. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.10 billion. During the same period in the prior year, the company posted $1.57 EPS. United Parcel Service’s quarterly revenue was up 5.4% on a year-over-year basis. United Parcel Service updated its FY 2024 guidance to EPS.

United Parcel Service Stock Performance

Shares of NYSE:UPS traded up $0.44 on Friday, hitting $138.79. The company’s stock had a trading volume of 2,231,902 shares, compared to its average volume of 4,208,276. United Parcel Service has a 12 month low of $123.12 and a 12 month high of $163.82. The company has a market capitalization of $118.88 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99. The stock’s 50-day moving average is $130.73 and its two-hundred day moving average is $136.17. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.70%. United Parcel Service’s payout ratio is 106.36%.

Analyst Upgrades and Downgrades

UPS has been the topic of a number of recent analyst reports. Citigroup initiated coverage on United Parcel Service in a research report on Wednesday, October 9th. They issued a “buy” rating and a $162.00 target price on the stock. UBS Group lowered their price target on United Parcel Service from $175.00 to $159.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Bank of America lowered their price target on United Parcel Service from $160.00 to $158.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Evercore ISI boosted their price target on United Parcel Service from $138.00 to $141.00 and gave the company an “in-line” rating in a report on Tuesday. Finally, Oppenheimer lowered their price target on United Parcel Service from $157.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, United Parcel Service presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.29.

About United Parcel Service

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.