United Parcel Service Shares Down 3.2% After Earnings Miss (UPS)
United Parcel Service (NYSE:UPS)’s share price was down 3.2% during trading on Tuesday following a weaker than expected earnings announcement, StockRatingsNetwork reports. The company traded as low as $98.90 and last traded at $99.38, with a volume of 5,464,903 shares. The stock had previously closed at $102.66.
The company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by $0.04. The company had revenue of $14.27 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Barclays reiterated an “overweight” rating on shares of United Parcel Service in a research note on Monday, July 21st. They now have a $120.00 price target on the stock, up previously from $112.00. Separately, analysts at Argus raised their price target on shares of United Parcel Service to $115.00 in a research note on Tuesday, July 1st. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $109.40.
The stock has a 50-day moving average of $102.9 and a 200-day moving average of $99.44. The company has a market cap of $90.496 billion and a P/E ratio of 22.75.
United Parcel Service, Inc (NYSE:UPS) is a package delivery company.
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