Zacks: Analysts Expect FedEx Co. (FDX) Will Announce Earnings of $4.91 Per Share

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Wall Street brokerages forecast that FedEx Co. (NYSE:FDX) will post earnings per share of $4.91 for the current quarter, according to Zacks. Seven analysts have made estimates for FedEx’s earnings. The highest EPS estimate is $5.10 and the lowest is $4.57. FedEx posted earnings per share of $5.91 in the same quarter last year, which suggests a negative year-over-year growth rate of 16.9%. The company is scheduled to announce its next quarterly earnings results on Tuesday, June 18th.

On average, analysts expect that FedEx will report full-year earnings of $15.44 per share for the current fiscal year, with EPS estimates ranging from $15.10 to $15.63. For the next financial year, analysts expect that the firm will report earnings of $16.53 per share, with EPS estimates ranging from $15.22 to $17.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover FedEx.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 EPS for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). FedEx had a return on equity of 22.67% and a net margin of 5.25%. The company had revenue of $17.01 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the previous year, the business posted $3.72 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis.

A number of research analysts have issued reports on FDX shares. ValuEngine upgraded FedEx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 26th. Morgan Stanley decreased their target price on FedEx from $156.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 20th. Credit Suisse Group reiterated a “buy” rating and issued a $241.00 target price on shares of FedEx in a research report on Monday, April 1st. Zacks Investment Research reiterated a “strong sell” rating on shares of FedEx in a research report on Monday, December 31st. Finally, Bank of America reiterated a “neutral” rating and issued a $193.00 target price (down previously from $220.00) on shares of FedEx in a research report on Wednesday, December 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $214.19.

FedEx stock traded up $0.09 during midday trading on Thursday, reaching $198.15. The company’s stock had a trading volume of 1,363,394 shares, compared to its average volume of 2,032,828. FedEx has a 52 week low of $150.94 and a 52 week high of $266.67. The company has a quick ratio of 1.40, a current ratio of 1.46 and a debt-to-equity ratio of 0.87. The stock has a market cap of $51.12 billion, a PE ratio of 12.94, a P/E/G ratio of 0.99 and a beta of 1.62.

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 16.98%.

In other news, CEO Frederick W. Smith sold 155,650 shares of FedEx stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the sale, the chief executive officer now directly owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of FedEx stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $173.30, for a total value of $4,679,100.00. Following the sale, the executive vice president now directly owns 200,320 shares in the company, valued at $34,715,456. The disclosure for this sale can be found here. Insiders have sold 187,950 shares of company stock worth $35,170,622 over the last three months. Insiders own 8.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc lifted its stake in shares of FedEx by 0.5% in the third quarter. Vanguard Group Inc now owns 19,396,617 shares of the shipping service provider’s stock worth $4,670,511,000 after acquiring an additional 96,084 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of FedEx by 15,104.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock worth $87,000 after acquiring an additional 13,970,642 shares during the period. Dodge & Cox lifted its stake in shares of FedEx by 20.0% in the third quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock worth $2,983,666,000 after acquiring an additional 2,065,853 shares during the period. Northern Trust Corp lifted its stake in shares of FedEx by 3.0% in the fourth quarter. Northern Trust Corp now owns 2,859,318 shares of the shipping service provider’s stock worth $461,295,000 after acquiring an additional 84,617 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of FedEx by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 2,746,237 shares of the shipping service provider’s stock worth $442,149,000 after acquiring an additional 185,252 shares during the period. 71.70% of the stock is currently owned by hedge funds and other institutional investors.

About FedEx

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

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