United Parcel Service Stock Rating Reaffirmed by Zacks (UPS)
United Parcel Service (NYSE:UPS)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Thursday. They currently have a $108.00 price objective on the stock. Zacks‘s target price would indicate a potential upside of 4.23% from the company’s current price.
Zacks’ analyst wrote, “We maintain our Neutral recommendation on United Parcel Service. We are encouraged by the company’s optimistic earnings projection, which reflects its strong market position and ability to safeguard shareholders value despite unfavorable market dynamics. The company’s financial strength helps drive growth through strategic investments, technology-backed operations and an enhanced worldwide network. Over the long term, we expect the company to continue investing in technology and network enhancements and its integrated sales approach should also spur growth. However, the tepid yearly earnings growth outlook issued by the company owing to muted performance across a few of the segments, stiff competition and volatile international operations keep us on the sidelines.”
Shares of United Parcel Service (NYSE:UPS) traded up 0.63% on Thursday, hitting $103.62. The stock had a trading volume of 2,514,938 shares. United Parcel Service has a 1-year low of $84.20 and a 1-year high of $105.37. The stock has a 50-day moving average of $100.4 and a 200-day moving average of $99.27. The company has a market cap of $94.854 billion and a price-to-earnings ratio of 22.82.
United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by $0.10. The company had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.91 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts expect that United Parcel Service will post $5.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 6th. Shareholders of record on Monday, May 19th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Thursday, May 15th.
In other United Parcel Service news, SVP Teri P. Mcclure sold 4,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $104.00, for a total value of $416,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Separately, analysts at Macquarie reiterated an “outperform” rating on shares of United Parcel Service in a research note on Tuesday, May 27th. They now have a $110.00 price target on the stock, up previously from $103.00. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $106.22.
United Parcel Service, Inc (NYSE:UPS) is a package delivery company.
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