Wall Street brokerages forecast that FedEx Co. (NYSE:FDX) will post $16.76 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for FedEx’s earnings, with estimates ranging from $16.05 billion to $17.13 billion. FedEx posted sales of $15.30 billion in the same quarter last year, which would indicate a positive year over year growth rate of 9.5%. The company is scheduled to announce its next earnings report on Tuesday, September 18th.
On average, analysts expect that FedEx will report full-year sales of $71.03 billion for the current financial year, with estimates ranging from $70.73 billion to $71.49 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $73.75 billion per share, with estimates ranging from $70.97 billion to $75.85 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for FedEx.
FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 19th. The shipping service provider reported $5.91 EPS for the quarter, beating the consensus estimate of $5.72 by $0.19. FedEx had a return on equity of 23.17% and a net margin of 6.99%. The company had revenue of $17.31 billion for the quarter, compared to analysts’ expectations of $17.24 billion. During the same period last year, the firm posted $4.25 earnings per share. FedEx’s revenue was up 10.1% compared to the same quarter last year.
FDX has been the topic of several recent analyst reports. Morgan Stanley dropped their price objective on FedEx from $248.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. reissued a “buy” rating and issued a $315.00 target price on shares of FedEx in a research report on Monday, March 19th. Sanford C. Bernstein raised FedEx from a “market perform” rating to an “outperform” rating and set a $290.00 target price on the stock in a research report on Friday, February 23rd. Citigroup raised their target price on FedEx from $274.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 16th. Finally, KeyCorp raised their target price on FedEx from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $285.94.
Shares of FedEx traded down $4.29, hitting $241.77, during trading on Monday, MarketBeat Ratings reports. 2,684,909 shares of the company’s stock traded hands, compared to its average volume of 1,524,691. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.39 and a quick ratio of 1.37. FedEx has a 1 year low of $203.13 and a 1 year high of $274.66. The stock has a market capitalization of $66.09 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 9th. Stockholders of record on Monday, June 25th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 1.08%. This is an increase from FedEx’s previous quarterly dividend of $0.50. FedEx’s dividend payout ratio (DPR) is 13.06%.
In related news, Director Paul S. Walsh sold 4,400 shares of FedEx stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $255.00, for a total transaction of $1,122,000.00. Following the sale, the director now owns 14,400 shares of the company’s stock, valued at approximately $3,672,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick W. Smith sold 124,000 shares of FedEx stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $255.99, for a total value of $31,742,760.00. Following the sale, the chief executive officer now directly owns 14,864,465 shares in the company, valued at approximately $3,805,154,395.35. The disclosure for this sale can be found here. 8.45% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of FDX. Summit Trail Advisors LLC raised its stake in FedEx by 22,153.3% during the 1st quarter. Summit Trail Advisors LLC now owns 722,341 shares of the shipping service provider’s stock valued at $722,000 after purchasing an additional 719,095 shares during the period. Fred Alger Management Inc. bought a new stake in FedEx during the 4th quarter valued at approximately $124,920,000. Winslow Capital Management LLC raised its stake in FedEx by 24.1% during the 4th quarter. Winslow Capital Management LLC now owns 1,274,640 shares of the shipping service provider’s stock valued at $318,073,000 after purchasing an additional 247,361 shares during the period. Prudential Financial Inc. raised its stake in FedEx by 53.7% during the 1st quarter. Prudential Financial Inc. now owns 696,459 shares of the shipping service provider’s stock valued at $167,226,000 after purchasing an additional 243,343 shares during the period. Finally, Westwood Holdings Group Inc. raised its stake in FedEx by 63.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 624,805 shares of the shipping service provider’s stock valued at $150,021,000 after purchasing an additional 241,604 shares during the period. 73.40% of the stock is currently owned by institutional investors.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.
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