UPS Climbs as High End of Forecast Tops Analysts' Estimates - Bloomberg
United Parcel Service Inc. rose after forecasting 2016 profit that could far exceed analysts’ expectations.
Adjusted earnings will climb to $5.70 to $5.90 a share this year, the package-delivery giant projected Tuesday in a statement. That compared with an average analyst prediction of $5.73, according to data compiled by Bloomberg.
“Investors were anticipating a rather subdued outlook,” said BB&T Capital Markets analyst Kevin Sterling. “I think they’ve got a better handle on peak. I think they’re pricing that business right.”
United Parcel Service Inc. rose after forecasting 2016 profit that could far exceed analysts’ expectations.
Adjusted earnings will climb to $5.70 to $5.90 a share this year, the package-delivery giant projected Tuesday in a statement. That compared with an average analyst prediction of $5.73, according to data compiled by Bloomberg.
“Investors were anticipating a rather subdued outlook,” said BB&T Capital Markets analyst Kevin Sterling. “I think they’ve got a better handle on peak. I think they’re pricing that business right.”