FedEx (NYSE:FDX) Releases Earnings Results, Misses Estimates By $0.55 EPS

FedEx (NYSE:FDX) released its earnings results on Monday. The shipping service provider reported $4.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.92 by ($0.55), MarketWatch Earnings reports. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a net margin of 6.23% and a return on equity of 22.55%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.87 EPS.

FedEx stock opened at $229.08 on Thursday. The stock has a market cap of $60.98 billion, a P/E ratio of 11.78, a P/E/G ratio of 1.01 and a beta of 1.22. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.86. FedEx has a twelve month low of $228.98 and a twelve month high of $319.90. The company’s 50-day moving average price is $272.37 and its two-hundred day moving average price is $284.93.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 3rd will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $3.00 annualized dividend and a yield of 1.31%. FedEx’s dividend payout ratio is currently 16.51%.

In related news, CEO John Alan Smith sold 11,285 shares of the firm’s stock in a transaction dated Tuesday, June 29th. The shares were sold at an average price of $296.00, for a total transaction of $3,340,360.00. Following the transaction, the chief executive officer now directly owns 16,386 shares of the company’s stock, valued at $4,850,256. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert B. Carter sold 16,235 shares of the firm’s stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $299.66, for a total transaction of $4,864,980.10. Following the transaction, the executive vice president now directly owns 68,680 shares in the company, valued at $20,580,648.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,240 shares of company stock worth $9,608,596. Insiders own 8.16% of the company’s stock.

An institutional investor recently bought a new position in FedEx stock. OLD Mission Capital LLC purchased a new stake in FedEx Co. (NYSE:FDX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 872 shares of the shipping service provider’s stock, valued at approximately $219,000. Hedge funds and other institutional investors own 72.64% of the company’s stock.

A number of brokerages have recently commented on FDX. Stifel Nicolaus began coverage on shares of FedEx in a research report on Monday, June 21st. They issued a “buy” rating and a $344.00 price objective on the stock. DZ Bank restated a “sell” rating on shares of FedEx in a report on Friday, June 25th. Berenberg Bank restated a “buy” rating and issued a $350.00 price objective on shares of FedEx in a report on Wednesday. Wells Fargo & Company decreased their price objective on FedEx from $351.00 to $314.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Morgan Stanley dropped their price objective on FedEx from $270.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $335.29.

About FedEx

FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. 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.

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Earnings History for FedEx (NYSE:FDX)

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