Q2 2024 EPS Estimates for United Parcel Service, Inc. (NYSE:UPS) Reduced by Analyst

United Parcel Service, Inc. (NYSE:UPS) – Equities research analysts at Zacks Research cut their Q2 2024 EPS estimates for shares of United Parcel Service in a research note issued to investors on Tuesday, May 7th. Zacks Research analyst M. Basu now forecasts that the transportation company will earn $1.98 per share for the quarter, down from their prior 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.

Other analysts have also recently issued reports about the company. Stifel Nicolaus dropped their price target on United Parcel Service from $178.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft cut their target price on 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. Evercore ISI restated an “in-line” rating and set a $154.00 price target on shares of United Parcel Service in a research report on Wednesday, March 27th. UBS Group raised shares of United Parcel Service from a “neutral” rating to a “buy” rating and boosted their target price for the company from $160.00 to $175.00 in a research note on Tuesday, February 6th. Finally, Robert W. Baird upgraded shares of United Parcel Service from a “neutral” rating to an “outperform” rating and raised their price target for the company from $165.00 to $170.00 in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $165.23.

United Parcel Service Price Performance

UPS opened at $147.10 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.10 and a debt-to-equity ratio of 1.11. The company’s 50-day moving average price is $149.35 and its 200 day moving average price is $150.53. United Parcel Service has a fifty-two week low of $133.68 and a fifty-two week high of $192.98. The firm has a market cap of $125.42 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 1.68 and a beta of 1.05.

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

Institutional Investors Weigh In On United Parcel Service

A number of institutional investors and hedge funds have recently modified their holdings of UPS. MWA Asset Management acquired a new position in shares of United Parcel Service in the 3rd quarter valued at $2,125,000. Chesapeake Wealth Management lifted its stake in United Parcel Service by 1.3% during the third quarter. Chesapeake Wealth Management now owns 7,886 shares of the transportation company’s stock valued at $1,229,000 after buying an additional 103 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of United Parcel Service by 13.1% in the fourth quarter. Cerity Partners LLC now owns 387,381 shares of the transportation company’s stock worth $60,908,000 after buying an additional 44,721 shares during the period. CapWealth Advisors LLC increased its position in shares of United Parcel Service by 1.2% in the fourth quarter. CapWealth Advisors LLC now owns 58,184 shares of the transportation company’s stock worth $9,148,000 after acquiring an additional 686 shares in the last quarter. Finally, Telos Capital Management Inc. raised its holdings in shares of United Parcel Service by 1.0% during the third quarter. Telos Capital Management Inc. now owns 74,337 shares of the transportation company’s stock valued at $11,587,000 after acquiring an additional 740 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 13th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $6.52 annualized dividend and a yield of 4.43%. United Parcel Service’s dividend payout ratio (DPR) is 94.49%.

About United Parcel Service

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.