#7 - United Parcel Service (NYSE:UPS)
United Parcel Service Inc. (NYSE: UPS) is a bit of a contrarian choice to close out this list. UPS stock is down 19% in the last 12 months. The stock gapped down sharply after a disappointing earnings report in which it lowered its guidance for the next 12 months. And the stock is facing tough resistance around its February 20, 2024, price of $148.78.
But analysts are looking ahead. UPS has taken cost-cutting measures and is taking steps to modernize and make its fleet more efficient. That's why the company is projecting 17.5% earnings growth in the next 12 months. Analysts are translating that into 19.2% stock price growth in the next year.
Granted, there may be assumptions that include a stronger economy in the back of the year. However, while you're waiting on growth, you're still collecting an attractive dividend that UPS has increased for the last 15 consecutive years. That dividend has a 4.38% yield and currently pays $6.52 per share annually.
About United Parcel Service
United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.
Read More - Current Price
- $123.38
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 15 Buy Ratings, 6 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $151.10 (22.5% Upside)
How does MarketBeat help you find stocks like this? To put together this list, I used the MarketBeat Dividend Screener. It's a free tool available to all investors. I adjusted the filters to screen only for stocks with a minimum expected upside of 10%. Once I got that list, I sorted for the stocks that paid the highest dividend.
At that point, I had to use my intuition. But that's what every investor needs to do. The stocks you see here appear to offer investors the best possible returns in 2024. You get a cross-section of sectors from many categories, including consumer staples, energy, transportation, basic materials, and defense stocks.
What you don't see are tech stocks or even healthcare stocks. There are names in these sectors that showed up on the Dividend Screener, but those sectors may have some downside ahead of them.
We encourage you to use tools like the Dividend Screener and let us know how it helped you. And if you're not a subscriber to MarketBeat All-Access, now is an excellent time to consider that. You'll get access to several premium screening tools that can help streamline your research.
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