FY2024 Earnings Forecast for United Parcel Service, Inc. Issued By Zacks Research (NYSE:UPS)

United Parcel Service, Inc. (NYSE:UPS) – Zacks Research cut their FY2024 earnings per share (EPS) estimates for shares of United Parcel Service in a research note issued to investors on Tuesday, August 6th. Zacks Research analyst M. Basu now forecasts that the transportation company will post earnings per share of $7.39 for the year, down from their previous estimate of $7.96. The consensus estimate for United Parcel Service’s current full-year earnings is $7.64 per share. Zacks Research also issued estimates for United Parcel Service’s Q4 2024 earnings at $2.49 EPS, Q3 2025 earnings at $1.66 EPS, Q4 2025 earnings at $3.16 EPS and FY2025 earnings at $8.62 EPS.

A number of other equities analysts have also recently issued reports on UPS. HSBC raised United Parcel Service from a “hold” rating to a “buy” rating and increased their target price for the stock from $150.00 to $170.00 in a report on Thursday, April 25th. Bank of America dropped their price objective on United Parcel Service from $160.00 to $158.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced their target price on shares of United Parcel Service from $150.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Barclays dropped their target price on shares of United Parcel Service from $145.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, Evercore ISI reduced their price target on shares of United Parcel Service from $157.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $151.00.

United Parcel Service Price Performance

NYSE:UPS traded down $0.39 during mid-day trading on Thursday, hitting $125.82. The company’s stock had a trading volume of 3,825,042 shares, compared to its average volume of 4,284,486. The company has a market capitalization of $107.65 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 1.72 and a beta of 0.98. The company has a current ratio of 1.25, a quick ratio of 1.04 and a debt-to-equity ratio of 1.18. United Parcel Service has a fifty-two week low of $123.12 and a fifty-two week high of $182.25. The stock has a fifty day moving average of $135.07 and a 200-day moving average of $143.57.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.20). The business had revenue of $21.82 billion during the quarter, compared to the consensus estimate of $22.17 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $2.54 EPS.

United Parcel Service Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Monday, August 19th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date is Monday, August 19th. United Parcel Service’s dividend payout ratio is presently 94.49%.

Insiders Place Their Bets

In related news, Director William R. Johnson bought 5,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was purchased at an average price of $128.61 per share, with a total value of $643,050.00. Following the completion of the acquisition, the director now owns 5,160 shares of the company’s stock, valued at $663,627.60. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On United Parcel Service

Several institutional investors have recently added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC bought a new position in shares of United Parcel Service during the fourth quarter valued at about $101,000. Tobam boosted its stake in United Parcel Service by 26.0% in the fourth quarter. Tobam now owns 4,976 shares of the transportation company’s stock valued at $782,000 after acquiring an additional 1,026 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of United Parcel Service by 186.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 96,038 shares of the transportation company’s stock valued at $15,100,000 after acquiring an additional 62,523 shares during the period. Segment Wealth Management LLC increased its stake in shares of United Parcel Service by 16.8% during the 4th quarter. Segment Wealth Management LLC now owns 3,399 shares of the transportation company’s stock worth $534,000 after purchasing an additional 490 shares during the last quarter. Finally, Optas LLC raised its holdings in shares of United Parcel Service by 6.2% in the 4th quarter. Optas LLC now owns 1,878 shares of the transportation company’s stock worth $295,000 after purchasing an additional 110 shares during the period. 60.26% of the stock is 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.