UPS Stock Rises After FedEx Earnings Beat - United Parcel Service (NYSE:UPS)

Benzinga

2024-06-26 01:07

UPS shares are trading higher after-hours Tuesday after Fed Ex posted better-than-expected fourth-quarter results. Here's a look at what to know:

　　United Parcel Service, Inc. UPS shares are trading higher after-hours Tuesday after Fed Ex CorpFDX posted better-than-expected fourth-quarter results.

　　The Details

　　FedEx reported fourth-quarter revenue of $22.1 billion, which beat the analyst consensus estimate of $22.06 billion, according to data from Benzinga Pro.

　　The company reported earnings per share of $5.41, which beat a Street consensus estimate of $5.37.

　　UPS shares moved lower in sympathy with FedEx shares Tuesday based on uncertainty ahead of the earnings report. UPS ended Tuesday's regular session down 3.04% at $134.38 per share.

　　UPS is set to report its next quarterly financial results on July 23 before the market opens.

　　UPS Stock Prediction 2024

　　Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

　　Shares of United Parcel Service have an average one-year price target of $156, representing an expected upside of 16.11%.

　　Because of differences in assumptions, analysts can arrive at very different price targets and recommendations.

　　UPS Price Action:According to Benzinga Pro, United Parcel Service shares are up 2.34% after-hours at $137.50 at the time of publication Tuesday.

　　Photo: Shutterstock

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