United Parcel Service (NYSE:UPS) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

United Parcel Service (NYSE:UPS) released its quarterly earnings results on Thursday. The transportation company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.65 by $0.11, Briefing.com reports. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The business 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 business earned $1.57 earnings per share. The company’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 Up 0.2 %

Shares of NYSE UPS traded up $0.25 on Friday, hitting $138.60. The company had a trading volume of 1,952,135 shares, compared to its average volume of 4,206,925. United Parcel Service has a 12-month low of $123.12 and a 12-month high of $163.82. The business has a 50 day moving average of $130.73 and a two-hundred day moving average of $136.17. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $118.72 billion, a P/E ratio of 22.61, a PEG ratio of 1.93 and a beta of 0.99.

United Parcel Service Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of United Parcel Service from $138.00 to $141.00 and gave the stock an “in-line” rating in a research report on Tuesday. Bank of America decreased their target price on shares of United Parcel Service from $160.00 to $158.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. UBS Group decreased their target price on shares of United Parcel Service from $175.00 to $159.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. TD Cowen assumed coverage on shares of United Parcel Service in a research report on Thursday, August 22nd. They set a “hold” rating and a $144.00 target price on the stock. Finally, Robert W. Baird decreased their target price on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, United Parcel Service currently has an average rating of “Moderate Buy” and a consensus price target of $151.29.

United Parcel Service Company Profile

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.