Wall Street analysts forecast that FedEx Co. (NYSE:FDX) will announce earnings of $4.91 per share for the current quarter, according to Zacks. Seven analysts have issued estimates for FedEx’s earnings. The highest EPS estimate is $5.10 and the lowest is $4.57. FedEx reported earnings of $5.91 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 16.9%. The firm is scheduled to report 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 year, with EPS estimates ranging from $15.10 to $15.63. For the next financial year, analysts expect that the business will post earnings of $16.53 per share, with EPS estimates ranging from $15.22 to $17.50. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow FedEx.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.07). The business had revenue of $17.01 billion for the quarter, compared to analyst estimates of $17.70 billion. FedEx had a return on equity of 22.67% and a net margin of 5.25%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.72 earnings per share.
A number of equities analysts recently weighed in on FDX shares. ValuEngine upgraded shares of FedEx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 26th. Morgan Stanley lowered their price target on shares of 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 restated a “buy” rating and set a $241.00 price target on shares of FedEx in a research report on Monday, April 1st. Zacks Investment Research restated a “strong sell” rating on shares of FedEx in a research report on Monday, December 31st. Finally, Cowen restated an “outperform” rating and set a $237.00 price target (down from $242.00) on shares of FedEx in a research report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. FedEx has a consensus rating of “Buy” and an average price target of $214.19.
In other FedEx news, Director Susan C. Schwab sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $175.11, for a total value of $525,330.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frederick W. Smith sold 155,650 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the completion of the transaction, the chief executive officer now owns 14,945,124 shares in the company, valued at $2,837,032,888.92. The disclosure for this sale can be found here. Insiders sold a total of 187,950 shares of company stock worth $35,170,622 over the last quarter. 8.50% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of FDX. Vanguard Group Inc raised its stake in shares of FedEx by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 19,396,617 shares of the shipping service provider’s stock valued at $4,670,511,000 after acquiring an additional 96,084 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of FedEx by 15,104.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock valued at $87,000 after acquiring an additional 13,970,642 shares during the period. Dodge & Cox raised its stake in shares of FedEx by 20.0% in the 3rd quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock valued at $2,983,666,000 after acquiring an additional 2,065,853 shares during the period. Northern Trust Corp raised its stake in shares of FedEx by 3.0% in the 4th quarter. Northern Trust Corp now owns 2,859,318 shares of the shipping service provider’s stock valued at $461,295,000 after acquiring an additional 84,617 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of FedEx by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 2,746,237 shares of the shipping service provider’s stock valued at $442,149,000 after acquiring an additional 185,252 shares during the period. Institutional investors own 71.70% of the company’s stock.
FDX opened at $198.15 on Thursday. The stock has a market cap of $51.63 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.01 and a beta of 1.62. FedEx has a twelve month low of $150.94 and a twelve month high of $266.67. The company has a current ratio of 1.46, a quick ratio of 1.40 and a debt-to-equity ratio of 0.87.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.60 annualized dividend and a yield of 1.31%. FedEx’s payout ratio is 16.98%.
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.
Recommended Story: What is Depreciation?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.