Wall Street brokerages predict that FedEx Co. (NYSE:FDX) will post earnings per share (EPS) of $1.82 for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for FedEx’s earnings, with estimates ranging from $1.56 to $2.10. FedEx reported earnings of $3.03 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 39.9%. The firm is scheduled to announce its next earnings report after the market closes on Tuesday, March 17th.
On average, analysts expect that FedEx will report full year earnings of $10.84 per share for the current year, with EPS estimates ranging from $10.70 to $11.00. For the next financial year, analysts forecast that the company will report earnings of $12.41 per share, with EPS estimates ranging from $11.60 to $13.40. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for FedEx.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, December 17th. The shipping service provider reported $2.51 EPS for the quarter, missing the consensus estimate of $2.78 by ($0.27). The business had revenue of $17.32 billion during the quarter, compared to analysts’ expectations of $17.69 billion. FedEx had a net margin of 0.11% and a return on equity of 19.10%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.03 EPS.
A number of analysts have recently issued reports on the company. Deutsche Bank cut FedEx to a “hold” rating and set a $142.00 target price for the company. in a report on Wednesday, December 18th. Berenberg Bank set a $155.00 target price on FedEx and gave the stock a “neutral” rating in a report on Monday, December 30th. KeyCorp reiterated a “hold” rating on shares of FedEx in a report on Wednesday, December 18th. Loop Capital reiterated a “buy” rating and set a $194.00 target price on shares of FedEx in a report on Wednesday, December 18th. Finally, Raymond James reiterated an “outperform” rating and set a $167.00 target price (down previously from $175.00) on shares of FedEx in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $169.88.
Shares of NYSE:FDX traded down $0.81 during trading on Friday, reaching $154.07. 1,972,730 shares of the stock were exchanged, compared to its average volume of 2,503,702. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.20 and a current ratio of 1.25. FedEx has a 12-month low of $137.78 and a 12-month high of $199.32. The firm has a market cap of $40.61 billion, a price-to-earnings ratio of 733.67, a price-to-earnings-growth ratio of 1.20 and a beta of 1.68. The firm’s 50-day moving average price is $155.91 and its 200 day moving average price is $157.42.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 9th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.69%. The ex-dividend date was Friday, December 6th. FedEx’s dividend payout ratio (DPR) is presently 16.75%.
In related news, Director John A. Edwardson purchased 5,000 shares of FedEx stock in a transaction that occurred on Thursday, October 31st. The shares were purchased at an average cost of $151.75 per share, with a total value of $758,750.00. Following the transaction, the director now owns 62,966 shares of the company’s stock, valued at approximately $9,555,090.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Edwardson purchased 10,000 shares of FedEx stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average cost of $148.22 per share, for a total transaction of $1,482,200.00. Following the completion of the transaction, the director now directly owns 77,966 shares in the company, valued at approximately $11,556,120.52. The disclosure for this purchase can be found here. Insiders own 8.44% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Simon Quick Advisors LLC raised its position in shares of FedEx by 1,600.0% in the 4th quarter. Simon Quick Advisors LLC now owns 170 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 160 shares in the last quarter. Manchester Financial Inc. acquired a new position in shares of FedEx in the 4th quarter valued at approximately $29,000. CX Institutional acquired a new position in shares of FedEx in the 3rd quarter valued at approximately $29,000. Accurate Investment Solutions Inc. raised its position in shares of FedEx by 125.0% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 225 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of FedEx in the 3rd quarter valued at approximately $33,000. 69.93% of the stock is currently owned by institutional investors.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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