KeyCorp Comments on FedEx Co.’s Q1 2019 Earnings (FDX)

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FedEx Co. (NYSE:FDX) – Equities researchers at KeyCorp increased their Q1 2019 EPS estimates for FedEx in a research report issued to clients and investors on Tuesday, September 4th. KeyCorp analyst T. Fowler now anticipates that the shipping service provider will post earnings per share of $3.85 for the quarter, up from their prior estimate of $3.82.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 19th. The shipping service provider reported $5.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.72 by $0.19. The firm had revenue of $17.31 billion for the quarter, compared to the consensus estimate of $17.24 billion. FedEx had a return on equity of 23.17% and a net margin of 6.99%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.25 EPS.

FDX has been the topic of several other research reports. Zacks Investment Research downgraded FedEx from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Loop Capital cut their price target on FedEx to $310.00 and set a “buy” rating on the stock in a report on Thursday, June 21st. UBS Group downgraded FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price target on the stock. in a report on Monday, July 16th. Citigroup upped their price target on FedEx from $274.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, May 16th. Finally, Morgan Stanley upped their price target on FedEx from $240.00 to $248.00 and gave the stock an “equal weight” rating in a report on Monday, June 4th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. FedEx currently has a consensus rating of “Buy” and an average price target of $287.70.

FDX stock opened at $245.97 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.33 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $64.72 billion, a P/E ratio of 16.12, a PEG ratio of 1.11 and a beta of 1.45. FedEx has a 12-month low of $209.67 and a 12-month high of $274.66.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Roof Eidam & Maycock ADV increased its holdings in shares of FedEx by 4.4% in the 1st quarter. Roof Eidam & Maycock ADV now owns 4,981 shares of the shipping service provider’s stock valued at $1,196,000 after acquiring an additional 210 shares during the last quarter. D.B. Root & Company LLC boosted its position in shares of FedEx by 7.6% in the 2nd quarter. D.B. Root & Company LLC now owns 2,964 shares of the shipping service provider’s stock valued at $673,000 after purchasing an additional 210 shares during the period. SevenBridge Financial Group LLC boosted its position in shares of FedEx by 4.9% in the 1st quarter. SevenBridge Financial Group LLC now owns 4,527 shares of the shipping service provider’s stock valued at $1,087,000 after purchasing an additional 213 shares during the period. NBT Bank N A NY boosted its position in shares of FedEx by 15.1% in the 1st quarter. NBT Bank N A NY now owns 1,636 shares of the shipping service provider’s stock valued at $393,000 after purchasing an additional 215 shares during the period. Finally, Elite Wealth Management Inc. boosted its position in shares of FedEx by 8.1% in the 1st quarter. Elite Wealth Management Inc. now owns 2,975 shares of the shipping service provider’s stock valued at $714,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 72.52% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 10th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 7th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.06%. FedEx’s payout ratio is currently 16.98%.

About FedEx

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.

Further Reading: Understanding Stock Ratings

Earnings History and Estimates for FedEx (NYSE:FDX)

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