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Why the Market Dipped But United Parcel Service (UPS) Gained Today
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United Parcel Service (UPS - Free Report) closed at $147.38 in the latest trading session, marking a +0.03% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 1.39% for the day. Meanwhile, the Dow experienced a rise of 0.6%, and the technology-dominated Nasdaq saw a decrease of 2.77%.
Coming into today, shares of the package delivery service had gained 9.78% in the past month. In that same time, the Transportation sector gained 6.6%, while the S&P 500 gained 4.43%.
The upcoming earnings release of United Parcel Service will be of great interest to investors. The company's earnings report is expected on July 23, 2024. On that day, United Parcel Service is projected to report earnings of $1.98 per share, which would represent a year-over-year decline of 22.05%. Our most recent consensus estimate is calling for quarterly revenue of $22.31 billion, up 1.16% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.15 per share and a revenue of $93.01 billion, indicating changes of -7.18% and +2.25%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for United Parcel Service. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.91% decrease. United Parcel Service is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that United Parcel Service has a Forward P/E ratio of 18.08 right now. This indicates a discount in contrast to its industry's Forward P/E of 19.09.
It is also worth noting that UPS currently has a PEG ratio of 1.89. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.67 based on yesterday's closing prices.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 228, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why the Market Dipped But United Parcel Service (UPS) Gained Today
United Parcel Service (UPS - Free Report) closed at $147.38 in the latest trading session, marking a +0.03% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 1.39% for the day. Meanwhile, the Dow experienced a rise of 0.6%, and the technology-dominated Nasdaq saw a decrease of 2.77%.
Coming into today, shares of the package delivery service had gained 9.78% in the past month. In that same time, the Transportation sector gained 6.6%, while the S&P 500 gained 4.43%.
The upcoming earnings release of United Parcel Service will be of great interest to investors. The company's earnings report is expected on July 23, 2024. On that day, United Parcel Service is projected to report earnings of $1.98 per share, which would represent a year-over-year decline of 22.05%. Our most recent consensus estimate is calling for quarterly revenue of $22.31 billion, up 1.16% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.15 per share and a revenue of $93.01 billion, indicating changes of -7.18% and +2.25%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for United Parcel Service. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.91% decrease. United Parcel Service is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that United Parcel Service has a Forward P/E ratio of 18.08 right now. This indicates a discount in contrast to its industry's Forward P/E of 19.09.
It is also worth noting that UPS currently has a PEG ratio of 1.89. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.67 based on yesterday's closing prices.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 228, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.