United Parcel Service (NYSE:UPS) Trading Up 0.4% After Earnings Beat

United Parcel Service, Inc. (NYSE:UPS)’s stock price shot up 0.4% during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $98.80 and last traded at $97.46. 3,525,772 shares changed hands during trading, a decline of 45% from the average session volume of 6,366,505 shares. The stock had previously closed at $97.09.

The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.11. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. The firm had revenue of $21.50 billion during the quarter, compared to analyst estimates of $21.25 billion. During the same quarter in the prior year, the company earned $1.43 EPS. The business’s revenue was down .9% compared to the same quarter last year.

United Parcel Service Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. United Parcel Service’s payout ratio is 97.04%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on UPS shares. Wolfe Research lowered their price target on shares of United Parcel Service from $133.00 to $113.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Truist Financial cut their price target on United Parcel Service from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company reiterated an “equal weight” rating and set a $98.00 price objective (down previously from $120.00) on shares of United Parcel Service in a research note on Tuesday, April 22nd. Galvan Research cut their target price on United Parcel Service from $147.00 to $133.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, StockNews.com lowered United Parcel Service from a “buy” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $126.41.

Institutional Investors Weigh In On United Parcel Service

A number of large investors have recently made changes to their positions in the company. IMG Wealth Management Inc. purchased a new stake in United Parcel Service during the fourth quarter valued at approximately $25,000. Generali Investments Management Co LLC bought a new stake in shares of United Parcel Service during the 4th quarter valued at $26,000. Pinney & Scofield Inc. purchased a new stake in shares of United Parcel Service in the 4th quarter worth $27,000. IFS Advisors LLC raised its holdings in United Parcel Service by 232.3% in the 4th quarter. IFS Advisors LLC now owns 216 shares of the transportation company’s stock worth $27,000 after purchasing an additional 151 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in United Parcel Service during the fourth quarter valued at $28,000. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Stock Down 0.4 %

The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. The company has a fifty day simple moving average of $107.82 and a 200-day simple moving average of $120.97. The firm has a market cap of $82.63 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.55 and a beta of 1.10.

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.