United Parcel Service Incs (UPS) quarterly earnings, reported on Thursday, outstripped market expectations, driven by higher revenue in domestic, international package delivery segments and the companys freight and supply chain operations.
United Parcel shares closed higher for a seventh consecutive trading session on Thursday. The stock went up 1.12% ($1.21) to $108.83, after touching an intraday high at $109.28, or a price level not seen since February 14th ($109.34). In the week ended on April 23rd the shares of the package delivery company added 1.96% to their market value compared to a week ago, which marked the first gain in the past three weeks. The stock has extended its advance to 1.43% so far during the current month, following a 1.46% surge in March. The latter has been the first monthly gain since last November. For the entire past year, United Parcel shares gained 19.13%.
Total revenue was reported to have increased to $15.315 billion during the first quarter of the year from $14.418 billion during the same period a year earlier. In comparison, the median estimate by analysts had pointed to $15.17 billion in revenue.
Revenue at United Parcels domestic segment grew 5% to $9.535 billion during the latest quarter from $9.084 billion a year ago. Revenue at the companys international segment also rose 5% to reach $3.058 billion during the period, while revenue from supply chain and freight operations expanded 12.5% to $2.722 billion.
At the same time, operating expenditures went up 7.4% to $13.531 billion during the first quarter from $12.595 billion during the same period a year earlier.
United Parcels net income was reported to have grown 2.4% to $1.158 billion ($1.32 per share) during the first quarter from $1.131 billion ($1.27 per share) during the same three-month period a year ago. In comparison, the median analyst forecast had pointed to earnings of $1.29 per share.
According to CNN Money, the 21 analysts, offering 12-month forecasts regarding United Parcel’s stock price, have a median target of $115.00, with a high estimate of $127.00 and a low estimate of $77.00. The median estimate is a 5.67% surge compared to the closing price of $108.83 on April 27th.
The same media also reported that 19 out of 25 surveyed investment analysts had rated United Parcel’s stock as “Hold”, while 4 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, todays levels of importance for the United Parcel stock are presented as follows:
R1 – $109.17
R2 – $109.51
R3 (Range Resistance – Sell) – $109.85
R4 (Long Breakout) – $110.87
R5 (Breakout Target 1) – $112.05
R6 (Breakout Target 2) – $112.64
S1 – $108.49
S2 – $108.15
S3 (Range Support – Buy) – $107.81
S4 (Short Breakout) – $106.80
S5 (Breakout Target 1) – $105.61
S6 (Breakout Target 2) – $105.02
By using the traditional method of calculation, the weekly levels of importance for United Parcel Service Inc (UPS) are presented as follows:
Central Pivot Point – $105.15
R1 – $106.75
R2 – $107.72
R3 – $109.32
R4 – $110.91
S1 – $104.18
S2 – $102.58
S3 – $101.61
S4 – $100.63