United Parcel Service (NYSE:UPS) Announces Quarterly Earnings Results

United Parcel Service (NYSE:UPS) issued its quarterly earnings results on Thursday. The transportation company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.13, Briefing.com reports. The company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.10 billion. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.57 earnings per share. United Parcel Service updated its FY 2024 guidance to EPS.

United Parcel Service Price Performance

NYSE:UPS opened at $137.43 on Monday. The firm has a market cap of $117.72 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. The company has a current ratio of 1.14, a quick ratio of 1.25 and a debt-to-equity ratio of 1.20. United Parcel Service has a 12-month low of $123.12 and a 12-month high of $163.82. The company’s 50-day moving average is $130.89 and its two-hundred day moving average is $135.90.

United Parcel Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend was Monday, August 19th. United Parcel Service’s payout ratio is 98.49%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on UPS. BMO Capital Markets lowered their target price on United Parcel Service from $169.00 to $155.00 and set a “market perform” rating for the company in a research note on Wednesday, July 24th. Wells Fargo & Company increased their target price on United Parcel Service from $134.00 to $142.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen began coverage on United Parcel Service in a research note on Thursday, August 22nd. They issued a “hold” rating and a $144.00 price target on the stock. UBS Group raised their target price on United Parcel Service from $159.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Baird R W raised United Parcel Service to a “strong-buy” rating in a report on Wednesday, July 24th. Two 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.43.

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.