Wall Street analysts expect FedEx Co. (NYSE:FDX) to report $16.13 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for FedEx’s earnings, with the lowest sales estimate coming in at $15.80 billion and the highest estimate coming in at $16.43 billion. FedEx posted sales of $15.00 billion in the same quarter last year, which would indicate a positive year over year growth rate of 7.5%. The company is scheduled to issue its next quarterly earnings report on Tuesday, March 20th.
According to Zacks, analysts expect that FedEx will report full-year sales of $16.13 billion for the current year, with estimates ranging from $62.94 billion to $65.14 billion. For the next fiscal year, analysts anticipate that the business will post sales of $67.83 billion per share, with estimates ranging from $66.14 billion to $70.23 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for FedEx.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.89 by $0.29. The business had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. FedEx’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 EPS.
FDX has been the subject of several recent analyst reports. Loop Capital upped their price objective on shares of FedEx to $318.00 in a report on Thursday, January 4th. Oppenheimer reaffirmed a “buy” rating and set a $229.00 price objective on shares of FedEx in a report on Wednesday, September 20th. Bank of America reaffirmed a “buy” rating and set a $240.00 price objective on shares of FedEx in a report on Wednesday, September 20th. Goldman Sachs Group initiated coverage on shares of FedEx in a report on Monday, November 13th. They set a “buy” rating and a $270.00 price objective for the company. Finally, Citigroup upped their price objective on shares of FedEx to $275.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $269.95.
FedEx (FDX) traded down $2.27 during midday trading on Tuesday, hitting $269.58. 1,668,575 shares of the company traded hands, compared to its average volume of 1,940,000. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. The company has a market cap of $72,220.00, a P/E ratio of 24.78, a P/E/G ratio of 1.62 and a beta of 1.36. FedEx has a fifty-two week low of $182.89 and a fifty-two week high of $273.16.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, December 8th. FedEx’s dividend payout ratio is 18.38%.
In other news, EVP Robert B. Carter sold 3,970 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the transaction, the executive vice president now owns 187,025 shares in the company, valued at approximately $46,892,778.25. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO David J. Bronczek sold 46,555 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the completion of the transaction, the chief operating officer now owns 48,562 shares of the company’s stock, valued at approximately $12,407,105.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,671 shares of company stock valued at $17,137,160. Corporate insiders own 8.45% of the company’s stock.
Several hedge funds have recently made changes to their positions in FDX. Salem Investment Counselors Inc. increased its position in shares of FedEx by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares in the last quarter. Krilogy Financial LLC increased its position in shares of FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares in the last quarter. Financial Engines Advisors L.L.C. acquired a new stake in shares of FedEx during the 3rd quarter worth about $132,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of FedEx during the 3rd quarter worth about $136,000. Finally, Carroll Financial Associates Inc. increased its position in shares of FedEx by 61.1% during the 3rd quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 75.69% of the company’s stock.
FedEx Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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