United Parcel Service, Inc. (NYSE:UPS – Get Free Report)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $131.41, but opened at $145.00. United Parcel Service shares last traded at $140.85, with a volume of 2,470,844 shares.
The transportation company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.11. The company had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.10 billion. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 earnings per share.
United Parcel Service Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend was Monday, August 19th. United Parcel Service’s payout ratio is currently 106.36%.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on UPS
Hedge Funds Weigh In On United Parcel Service
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TruNorth Capital Management LLC acquired a new position in shares of United Parcel Service during the 2nd quarter worth about $28,000. Riverview Trust Co bought a new position in United Parcel Service in the 2nd quarter valued at about $32,000. Centerpoint Advisors LLC raised its holdings in United Parcel Service by 291.7% in the 2nd quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 175 shares during the period. Stephens Consulting LLC raised its holdings in United Parcel Service by 869.6% in the 1st quarter. Stephens Consulting LLC now owns 223 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 200 shares during the period. Finally, Tortoise Investment Management LLC raised its holdings in United Parcel Service by 168.5% in the 2nd quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 155 shares during the period. 60.26% of the stock is owned by institutional investors and hedge funds.
United Parcel Service Stock Performance
The stock has a market capitalization of $117.75 billion, a P/E ratio of 22.43, a PEG ratio of 1.93 and a beta of 0.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25. The company’s fifty day simple moving average is $130.73 and its two-hundred day simple moving average is $136.17.
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.
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