Why UPS Stock Is Up Today
United Parcel Service (NYSE: UPS) delivered quarterly revenue and profit growth for the first time in about a year and a half, and investors are cheering the news. Shares of UPS opened up 10% on Thursday and traded up 6% as of 10 a.m. ET.
It has been a difficult period for shipping companies. Large customers have cut back on orders due to economic uncertainty, creating a weak pricing environment. UPS has faced these sector headwinds while also dealing with a new labor deal that boosted costs.
The company earned $1.76 per share in the quarter on revenue of $22.2 billion, beating Wall Street's consensus estimate for earnings of $1.63 per share on sales of $22.1 billion. Revenue was up 5.8% year over year on strong average daily volume.
Source Fool.com
United Parcel Service Inc. Stock
The stock is one of the favorites of our community with 27 Buy predictions and 4 Sell predictions.
With a target price of 102 € there is a slightly positive potential of 12.83% for United Parcel Service Inc. compared to the current price of 90.4 €.
