Equities analysts expect FedEx Co. (NYSE:FDX) to announce sales of $17.19 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for FedEx’s earnings. The highest sales estimate is $17.38 billion and the lowest is $16.96 billion. FedEx reported sales of $17.01 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.1%. The company is scheduled to issue its next earnings results after the market closes on Tuesday, March 17th.
According to Zacks, analysts expect that FedEx will report full year sales of $69.23 billion for the current fiscal year, with estimates ranging from $68.65 billion to $69.82 billion. For the next fiscal year, analysts anticipate that the company will report sales of $71.73 billion, with estimates ranging from $69.39 billion to $73.15 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow FedEx.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, December 17th. The shipping service provider reported $2.51 earnings per share (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 the consensus estimate of $17.69 billion. FedEx had a net margin of 0.11% and a return on equity of 19.10%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $4.03 EPS.
Several research firms recently weighed in on FDX. Argus cut shares of FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Credit Suisse Group set a $170.00 price target on FedEx and gave the stock a “buy” rating in a report on Tuesday, December 24th. KeyCorp reiterated a “hold” rating on shares of FedEx in a report on Wednesday, December 18th. ValuEngine lowered FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Finally, Deutsche Bank lowered FedEx to a “hold” rating and set a $142.00 target price for the company. in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $170.20.
In other news, Director John A. Edwardson acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $148.22 per share, with a total value of $1,482,200.00. Following the acquisition, the director now owns 77,966 shares in the company, valued at approximately $11,556,120.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.44% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in FDX. BlackRock Inc. increased its stake in FedEx by 9.5% in the 2nd quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock worth $2,654,161,000 after purchasing an additional 1,395,988 shares during the period. State Street Corp boosted its position in shares of FedEx by 1.1% during the fourth quarter. State Street Corp now owns 10,029,674 shares of the shipping service provider’s stock valued at $1,523,004,000 after purchasing an additional 105,441 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of FedEx by 28.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,036,716 shares of the shipping service provider’s stock valued at $761,602,000 after purchasing an additional 1,120,770 shares in the last quarter. Parnassus Investments CA boosted its position in shares of FedEx by 1.9% during the fourth quarter. Parnassus Investments CA now owns 4,175,447 shares of the shipping service provider’s stock valued at $631,369,000 after purchasing an additional 76,228 shares in the last quarter. Finally, FMR LLC boosted its holdings in FedEx by 9.5% in the fourth quarter. FMR LLC now owns 3,261,421 shares of the shipping service provider’s stock worth $493,159,000 after acquiring an additional 282,380 shares in the last quarter. 69.79% of the stock is owned by institutional investors.
Shares of NYSE FDX traded down $2.85 during midday trading on Tuesday, reaching $158.62. The company’s stock had a trading volume of 1,677,629 shares, compared to its average volume of 2,628,922. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 1.67. The stock has a 50 day simple moving average of $153.99 and a 200-day simple moving average of $155.81. FedEx has a fifty-two week low of $137.78 and a fifty-two week high of $199.32. The stock has a market capitalization of $40.94 billion, a price-to-earnings ratio of 755.33, a PEG ratio of 1.21 and a beta of 1.71.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 9th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.64%. FedEx’s dividend payout ratio (DPR) is currently 16.75%.
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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