FedEx Co. (NYSE:FDX) Expected to Post Quarterly Sales of $21.09 Billion

Equities analysts predict that FedEx Co. (NYSE:FDX) will announce sales of $21.09 billion for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for FedEx’s earnings. The highest sales estimate is $22.40 billion and the lowest is $18.90 billion. FedEx reported sales of $17.36 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 21.5%. The firm is expected to announce its next quarterly earnings report on Tuesday, June 29th.

On average, analysts expect that FedEx will report full-year sales of $82.39 billion for the current year, with estimates ranging from $79.03 billion to $83.79 billion. For the next year, analysts expect that the business will report sales of $85.80 billion, with estimates ranging from $80.38 billion to $89.79 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover FedEx.

FedEx (NYSE:FDX) last released its earnings results on Wednesday, March 17th. The shipping service provider reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.26. The business had revenue of $21.51 billion during the quarter, compared to analysts’ expectations of $19.90 billion. FedEx had a net margin of 3.28% and a return on equity of 18.65%. The company’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 earnings per share.

A number of analysts have recently issued reports on FDX shares. The Goldman Sachs Group lifted their price target on FedEx from $356.00 to $365.00 and gave the stock a “buy” rating in a research note on Thursday, March 25th. Credit Suisse Group lowered their target price on shares of FedEx from $368.00 to $350.00 and set an “outperform” rating on the stock in a research note on Thursday, March 18th. Raymond James increased their target price on shares of FedEx from $305.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, March 25th. Vertical Research began coverage on shares of FedEx in a research report on Thursday, April 1st. They set a “buy” rating and a $340.00 price target on the stock. Finally, UBS Group reiterated a “buy” rating and issued a $383.00 price objective on shares of FedEx in a report on Friday, March 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. FedEx currently has a consensus rating of “Buy” and a consensus price target of $315.56.

In other news, CEO Donald F. Colleran sold 13,425 shares of the firm’s stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $315.23, for a total value of $4,231,962.75. Following the completion of the transaction, the chief executive officer now owns 52,479 shares of the company’s stock, valued at $16,542,955.17. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michael C. Lenz sold 4,700 shares of FedEx stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $315.97, for a total transaction of $1,485,059.00. Following the completion of the transaction, the executive vice president now owns 15,646 shares of the company’s stock, valued at approximately $4,943,666.62. The disclosure for this sale can be found here. Insiders have sold 180,773 shares of company stock worth $53,374,869 over the last 90 days. 8.49% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of FDX. Wagner Wealth Management LLC acquired a new stake in FedEx in the 1st quarter valued at about $25,000. CVA Family Office LLC purchased a new stake in shares of FedEx during the fourth quarter worth approximately $26,000. Vectors Research Management LLC acquired a new stake in FedEx in the fourth quarter valued at approximately $26,000. RMR Wealth Builders purchased a new position in FedEx in the fourth quarter worth approximately $27,000. Finally, Curi Capital acquired a new position in FedEx during the 4th quarter worth approximately $31,000. 72.74% of the stock is owned by institutional investors.

NYSE:FDX traded down $0.17 during trading hours on Wednesday, hitting $309.26. 913,825 shares of the stock were exchanged, compared to its average volume of 2,385,246. The firm’s fifty day moving average price is $291.15 and its 200 day moving average price is $272.30. FedEx has a 52-week low of $112.79 and a 52-week high of $317.00. The company has a market cap of $82.06 billion, a P/E ratio of 33.65, a P/E/G ratio of 1.22 and a beta of 1.30. The company has a current ratio of 1.76, a quick ratio of 1.71 and a debt-to-equity ratio of 1.10.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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Earnings History and Estimates for FedEx (NYSE:FDX)

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