United Parcel Service (NYSE:UPS) Issues Quarterly Earnings Results, Beats Estimates By $0.10 EPS

United Parcel Service (NYSE:UPS) released its quarterly earnings results on Tuesday. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.33 by $0.10, RTT News reports. The company had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.84 billion. United Parcel Service had a return on equity of 37.42% and a net margin of 6.60%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the business posted $2.20 earnings per share. United Parcel Service updated its FY 2024 guidance to EPS.

United Parcel Service Trading Up 0.6 %

Shares of UPS opened at $147.45 on Friday. The firm’s 50-day moving average is $149.57 and its two-hundred day moving average is $151.01. The firm has a market capitalization of $125.72 billion, a P/E ratio of 21.37, a PEG ratio of 1.68 and a beta of 1.05. United Parcel Service has a twelve month low of $133.68 and a twelve month high of $192.98. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.11.

United Parcel Service Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Tuesday, February 20th were given a dividend of $1.63 per share. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.62. This represents a $6.52 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Friday, February 16th. United Parcel Service’s dividend payout ratio is presently 94.49%.

Insider Activity

In other United Parcel Service news, Director Eva C. Boratto purchased 1,400 shares of the stock in a transaction dated Friday, February 2nd. The shares were acquired at an average cost of $142.30 per share, for a total transaction of $199,220.00. Following the completion of the transaction, the director now directly owns 1,400 shares of the company’s stock, valued at $199,220. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on UPS. BMO Capital Markets boosted their target price on United Parcel Service from $165.00 to $169.00 and gave the company a “market perform” rating in a research report on Wednesday. Morgan Stanley boosted their target price on United Parcel Service from $95.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, March 27th. Raymond James dropped their target price on United Parcel Service from $185.00 to $175.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 31st. Stifel Nicolaus dropped their target price on United Parcel Service from $178.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on United Parcel Service from $183.00 to $179.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, United Parcel Service has an average rating of “Hold” and an average price target of $166.96.

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.