FedEx (NYSE:FDX) Updates FY 2023 Earnings Guidance

FedEx (NYSE:FDX – Get Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share guidance of $14.60-$15.20 for the period, compared to the consensus earnings per share estimate of $13.56. The company issued revenue guidance of -. FedEx also updated its FY23 guidance to $13.80-14.40 EPS.

Analyst Ratings Changes

A number of research firms have commented on FDX. Wells Fargo & Company raised their target price on FedEx from $225.00 to $240.00 and gave the company an equal weight rating in a report on Friday. Credit Suisse Group raised their target price on FedEx from $257.00 to $269.00 and gave the company an outperform rating in a report on Friday. Stephens raised their target price on FedEx from $200.00 to $290.00 and gave the company an overweight rating in a report on Friday. Susquehanna raised their target price on FedEx from $170.00 to $225.00 in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on FedEx from $190.00 to $217.00 in a report on Monday, November 28th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $230.75.

FedEx Trading Up 8.0 %

FedEx stock opened at $220.31 on Friday. The stock has a market cap of $55.61 billion, a PE ratio of 19.03, a P/E/G ratio of 1.26 and a beta of 1.31. The stock has a 50-day moving average price of $201.14 and a 200 day moving average price of $181.41. FedEx has a 52 week low of $141.92 and a 52 week high of $248.76. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83.

FedEx (NYSE:FDX – Get Rating) last posted its quarterly earnings data on Thursday, March 16th. The shipping service provider reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.74. The firm had revenue of $22.17 billion during the quarter, compared to analysts’ expectations of $22.74 billion. FedEx had a return on equity of 17.71% and a net margin of 3.23%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.59 EPS. Equities research analysts predict that FedEx will post 15 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, March 10th. FedEx’s dividend payout ratio (DPR) is 39.72%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Amy B. Lane purchased 280 shares of the stock in a transaction on Tuesday, January 3rd. The stock was bought at an average price of $175.83 per share, for a total transaction of $49,232.40. Following the acquisition, the director now directly owns 1,529 shares of the company’s stock, valued at $268,844.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.62% of the stock is owned by company insiders.

Institutional Trading of FedEx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RB Capital Management LLC lifted its stake in shares of FedEx by 3.3% in the 1st quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock valued at $451,000 after purchasing an additional 63 shares in the last quarter. AMI Investment Management Inc. lifted its stake in shares of FedEx by 43.9% in the 1st quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock valued at $3,560,000 after purchasing an additional 4,693 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of FedEx by 101.5% in the 1st quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock valued at $989,000 after purchasing an additional 2,153 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of FedEx by 7.8% in the 1st quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock valued at $34,408,000 after purchasing an additional 10,731 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in shares of FedEx by 553.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

FedEx Company Profile

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. 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.