Why UPS Stock Is Up Today
United Parcel Service (NYSE: UPS) used cost cutting to offset soft demand and deliver a first-quarter beat. Investors appear more relieved than excited, sending UPS shares up as much as 3% on the day and up 1.8% as of 11 p.m. ET.
It has been a tough few quarters for major shipping companies. A period of post-pandemic inventory restocking fueled demand for transportation services, but in 2023, as doubts formed about the health of the economy, large corporate customers looked to cool their supply chains and cut back on expenses.
The trend continued through the first three months of 2024. UPS earned $1.43 per share in the first quarter, beating Wall Street's $1.30-per-share estimate, but revenue of $21.7 billion was down 5.3% from last year and fell slightly below expectations.
Source Fool.com
United Parcel Service Inc. Aktie
Positive Stimmung für United Parcel Service Inc. mit mehreren Buy- gegenüber Sell-Einschätzungen.
Ein prognostiziertes Kursziel von 157 € für United Parcel Service Inc. zeigt ein Potenzial von über 20% im Vergleich zum aktuellen Kurs von 114.66 €.