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

United Parcel Service (NYSE:UPS) posted its earnings results on Tuesday. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10, RTT News reports. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.84 billion. United Parcel Service had a return on equity of 39.46% and a net margin of 7.37%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the firm earned $2.20 EPS. United Parcel Service updated its FY 2024 guidance to EPS.

United Parcel Service Stock Performance

NYSE:UPS opened at $148.85 on Wednesday. The company’s 50-day moving average is $149.52 and its two-hundred day moving average is $151.06. United Parcel Service has a 1-year low of $133.68 and a 1-year high of $197.31. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $126.92 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.69 and a beta of 1.05.

United Parcel Service Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Tuesday, February 20th were given a dividend of $1.63 per share. This is a boost from United Parcel Service’s previous quarterly dividend of $1.62. This represents a $6.52 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Friday, February 16th. United Parcel Service’s dividend payout ratio (DPR) is presently 83.70%.

Insider Activity

In other United Parcel Service news, Director Eva C. Boratto bought 1,400 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was bought at an average price of $142.30 per share, with a total value of $199,220.00. Following the completion of the purchase, the director now directly owns 1,400 shares in the company, valued at $199,220. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on UPS shares. TD Cowen dropped their price objective on United Parcel Service from $147.00 to $140.00 and set a “hold” rating on the stock in a report on Thursday, March 28th. JPMorgan Chase & Co. cut their price target on shares of United Parcel Service from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. TheStreet raised shares of United Parcel Service from a “c” rating to a “b-” rating in a report on Tuesday, January 30th. Susquehanna lifted their target price on shares of United Parcel Service from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Evercore ISI restated an “in-line” rating and set a $154.00 price target on shares of United Parcel Service in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $166.22.

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.