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

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

United Parcel Service Stock Performance

Shares of UPS traded up $0.48 during trading hours on Friday, hitting $138.83. The company’s stock had a trading volume of 2,150,365 shares, compared to its average volume of 4,207,882. The business has a 50 day simple moving average of $130.73 and a two-hundred day simple moving average of $136.17. United Parcel Service has a 52-week low of $123.12 and a 52-week high of $163.82. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $118.92 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 1.93 and a beta of 0.99.

United Parcel Service Dividend Announcement

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

Wall Street Analysts Forecast Growth

UPS has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of United Parcel Service from $175.00 to $159.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. TD Cowen began coverage on shares of United Parcel Service in a research report on Thursday, August 22nd. They issued a “hold” rating and a $144.00 price target for the company. Barclays reissued an “underweight” rating and issued a $120.00 price target on shares of United Parcel Service in a research report on Monday. Citigroup began coverage on shares of United Parcel Service in a research report on Wednesday, October 9th. They issued a “buy” rating and a $162.00 price target for the company. Finally, Bank of America reduced their price target on shares of United Parcel Service from $160.00 to $158.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, United Parcel Service 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.