United Parcel Service (NYSE:UPS) Shares Climb 6.1% Following Earnings Beat

United Parcel Service, Inc. (NYSE:UPS – Get Free Report)’s share price shot up 6.1% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $106.59 and last traded at $106.4320. 10,922,672 shares changed hands during mid-day trading, an increase of 95% from the average session volume of 5,615,495 shares. The stock had previously closed at $100.32.

The transportation company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.07. United Parcel Service had a net margin of 5.08% and a return on equity of 37.50%. United Parcel Service’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.74 earnings per share.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Monday, August 17th were issued a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $6.56 annualized dividend and a dividend yield of 6.2%. United Parcel Service’s dividend payout ratio (DPR) is currently 121.93%.

Key United Parcel Service News

Here are the key news stories impacting United Parcel Service this week:

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Raymond James Financial boosted their price target on United Parcel Service from $127.00 to $131.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 29th. UBS Group boosted their price objective on United Parcel Service from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. BMO Capital Markets upped their target price on United Parcel Service from $110.00 to $115.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. reduced their price objective on shares of United Parcel Service from $118.00 to $115.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Finally, Citigroup reduced their price target on shares of United Parcel Service from $132.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $115.70.

Check Out Our Latest Research Report on UPS

Hedge Funds Weigh In On United Parcel Service

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in United Parcel Service by 23.3% during the first quarter. Bank of America Corp DE now owns 9,728,123 shares of the transportation company’s stock worth $957,053,000 after acquiring an additional 1,836,651 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in United Parcel Service by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,037,626 shares of the transportation company’s stock valued at $495,411,000 after purchasing an additional 271,646 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of United Parcel Service by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 4,639,324 shares of the transportation company’s stock worth $456,417,000 after buying an additional 97,582 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of United Parcel Service by 37.4% during the first quarter. First Trust Advisors LP now owns 3,631,133 shares of the transportation company’s stock valued at $357,231,000 after buying an additional 988,442 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of United Parcel Service by 8.2% in the 1st quarter. Pacer Advisors Inc. now owns 3,510,630 shares of the transportation company’s stock worth $345,376,000 after purchasing an additional 266,396 shares in the last quarter. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Price Performance

The stock has a market capitalization of $90.55 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50 day moving average price is $98.92 and its 200 day moving average price is $104.66.

United Parcel Service Company Profile

(Get Free Report)

United Parcel Service, Inc (NYSE: UPS) is a global package delivery and logistics company. Its services include the transportation and delivery of packages and freight, time-definite express delivery, supply chain management, customs brokerage, and logistics consulting. UPS serves businesses and consumers through ground, air, and international delivery networks.

The company operates across the United States and in international markets throughout Europe, Asia-Pacific, Latin America, Canada, and other regions.

Read More

Receive News & Ratings for United Parcel Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Parcel Service and related companies with MarketBeat.com's FREE daily email newsletter.