Equities Analysts Set Expectations for United Parcel Service, Inc.’s Q2 2024 Earnings (NYSE:UPS)

United Parcel Service, Inc. (NYSE:UPS) – Research analysts at Zacks Research decreased their Q2 2024 EPS estimates for United Parcel Service in a research report issued on Tuesday, May 7th. Zacks Research analyst M. Basu now expects 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.

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

Other equities research analysts have also issued research reports about the stock. Susquehanna increased their price objective on shares of United Parcel Service from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Evercore ISI reissued an “in-line” rating and set a $154.00 price objective on shares of United Parcel Service in a report on Wednesday, March 27th. TD Cowen reduced their target price on shares of United Parcel Service from $147.00 to $140.00 and set a “hold” rating on the stock in a research note on Thursday, March 28th. Oppenheimer boosted their price target on shares of United Parcel Service from $153.00 to $157.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of United Parcel Service from $183.00 to $179.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, United Parcel Service presently has an average rating of “Hold” and an average price target of $165.23.

United Parcel Service Stock Performance

Shares of NYSE:UPS opened at $147.77 on Wednesday. The business has a fifty day moving average of $149.35 and a 200-day moving average of $150.53. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.04 and a current ratio of 1.10. United Parcel Service has a twelve month low of $133.68 and a twelve month high of $192.98. The firm has a market cap of $126.00 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.05.

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 13th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Friday, May 10th. United Parcel Service’s payout ratio is currently 94.49%.

Institutional Investors Weigh In On United Parcel Service

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in shares of United Parcel Service in the 3rd quarter valued at about $25,000. Tennessee Valley Asset Management Partners bought a new position in shares of United Parcel Service during the fourth quarter worth about $26,000. Life Planning Partners Inc acquired a new stake in United Parcel Service in the 4th quarter valued at approximately $28,000. Northwest Financial Advisors bought a new stake in United Parcel Service in the 4th quarter valued at approximately $28,000. Finally, Bourgeon Capital Management LLC acquired a new position in United Parcel Service during the 4th quarter worth approximately $31,000. 60.26% of the stock is currently owned by institutional investors and hedge funds.

United Parcel Service Company Profile

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.