Q2 2024 EPS Estimates for United Parcel Service, Inc. Cut by Zacks Research (NYSE:UPS)

United Parcel Service, Inc. (NYSE:UPS) – Equities researchers at Zacks Research reduced their Q2 2024 earnings per share (EPS) estimates for United Parcel Service in a note issued to investors on Tuesday, May 7th. Zacks Research analyst M. Basu now anticipates that the transportation company will earn $1.98 per share for the quarter, down from their previous estimate of $2.06. The consensus estimate for United Parcel Service’s current full-year earnings is $8.23 per share. Zacks Research also issued estimates for United Parcel Service’s Q3 2024 earnings at $1.98 EPS, Q4 2024 earnings at $2.56 EPS, FY2024 earnings at $7.96 EPS, Q1 2025 earnings at $1.93 EPS, Q2 2025 earnings at $1.95 EPS, Q3 2025 earnings at $1.72 EPS and Q4 2025 earnings at $3.24 EPS.

A number of other analysts have also recently commented on UPS. Raymond James cut their target price on shares of United Parcel Service from $185.00 to $175.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 31st. Morgan Stanley boosted their price target on United Parcel Service from $95.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 27th. BMO Capital Markets raised their price objective on United Parcel Service from $165.00 to $169.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. HSBC raised shares of United Parcel Service from a “hold” rating to a “buy” rating and upped their price objective for the company from $150.00 to $170.00 in a research note on Thursday, April 25th. Finally, Stifel Nicolaus lowered their target price on United Parcel Service from $178.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, United Parcel Service currently has an average rating of “Hold” and a consensus price target of $165.23.

United Parcel Service Stock Up 0.2 %

UPS stock opened at $148.07 on Wednesday. The firm has a market capitalization of $126.25 billion, a PE ratio of 21.46, a P/E/G ratio of 1.68 and a beta of 1.05. The company has a quick ratio of 1.04, a current ratio of 1.10 and a debt-to-equity ratio of 1.11. United Parcel Service has a twelve month low of $133.68 and a twelve month high of $192.98. The stock’s 50 day moving average is $149.35 and its 200-day moving average is $150.51.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.10. United Parcel Service had a net margin of 6.60% and a return on equity of 37.42%. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.84 billion. During the same quarter last year, the firm posted $2.20 EPS. United Parcel Service’s revenue was down 5.3% compared to the same quarter last year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 13th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Friday, May 10th. United Parcel Service’s payout ratio is currently 94.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of UPS. Tennessee Valley Asset Management Partners acquired a new position in shares of United Parcel Service during the 4th quarter worth about $26,000. OFI Invest Asset Management purchased a new position in United Parcel Service in the third quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new stake in United Parcel Service during the fourth quarter worth approximately $28,000. Northwest Financial Advisors acquired a new position in shares of United Parcel Service in the 4th quarter valued at $28,000. Finally, Pineridge Advisors LLC purchased a new position in shares of United Parcel Service in the 4th quarter valued at $31,000. 60.26% of the stock is owned by institutional investors and hedge funds.

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.