FedEx Co. (NYSE:FDX) Expected to Post Earnings of $4.24 Per Share

Brokerages expect that FedEx Co. (NYSE:FDX) will post earnings of $4.24 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for FedEx’s earnings. The highest EPS estimate is $4.45 and the lowest is $3.87. FedEx posted earnings per share of $4.83 during the same quarter last year, which would suggest a negative year over year growth rate of 12.2%. The business is expected to announce its next earnings results after the market closes on Thursday, December 16th.

According to Zacks, analysts expect that FedEx will report full year earnings of $19.47 per share for the current fiscal year, with EPS estimates ranging from $17.68 to $20.38. For the next year, analysts forecast that the company will post earnings of $22.57 per share, with EPS estimates ranging from $22.00 to $23.49. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for FedEx.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Monday, September 20th. The shipping service provider reported $4.37 earnings per share for the quarter, missing the consensus estimate of $4.92 by ($0.55). FedEx had a return on equity of 20.93% and a net margin of 5.88%. The business had revenue of $22 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter in the previous year, the company posted $4.87 earnings per share. The company’s quarterly revenue was up 13.9% compared to the same quarter last year.

Several brokerages recently issued reports on FDX. Wells Fargo & Company dropped their price objective on FedEx from $351.00 to $314.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 22nd. Credit Suisse Group set a $330.00 target price on FedEx in a research report on Wednesday, September 22nd. UBS Group set a $369.00 target price on FedEx in a research report on Wednesday, September 22nd. Berenberg Bank set a $330.00 target price on FedEx in a research report on Wednesday, September 29th. Finally, Argus dropped their target price on FedEx from $330.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday, September 23rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, FedEx has an average rating of “Buy” and a consensus target price of $315.13.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Mercantile Trust Co. raised its stake in shares of FedEx by 33.7% during the 3rd quarter. First Mercantile Trust Co. now owns 3,901 shares of the shipping service provider’s stock valued at $855,000 after buying an additional 984 shares during the last quarter. EP Wealth Advisors LLC increased its stake in shares of FedEx by 14.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 85,643 shares of the shipping service provider’s stock valued at $18,781,000 after purchasing an additional 10,518 shares in the last quarter. Wealthsource Partners LLC purchased a new position in shares of FedEx in the 3rd quarter valued at about $354,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of FedEx in the 3rd quarter valued at about $1,402,000. Finally, Kentucky Retirement Systems increased its stake in shares of FedEx by 0.6% in the 3rd quarter. Kentucky Retirement Systems now owns 14,306 shares of the shipping service provider’s stock valued at $3,137,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 72.61% of the company’s stock.

NYSE:FDX traded down $2.86 during midday trading on Thursday, hitting $243.57. The stock had a trading volume of 1,646,041 shares, compared to its average volume of 2,480,219. FedEx has a one year low of $216.34 and a one year high of $319.90. The company has a market capitalization of $64.70 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.04 and a beta of 1.29. The stock has a 50-day moving average of $236.21 and a 200 day moving average of $270.26. The company has a quick ratio of 1.47, a current ratio of 1.51 and a debt-to-equity ratio of 0.85.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 27th. Investors of record on Monday, December 13th will be paid a $0.75 dividend. The ex-dividend date is Friday, December 10th. This represents a $3.00 dividend on an annualized basis and a yield of 1.23%. FedEx’s dividend payout ratio (DPR) is 15.94%.

FedEx Company Profile

FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.

Featured Story: Differences Between Momentum Investing and Long Term Investing

Get a free copy of the Zacks research report on FedEx (FDX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.