$2.86 Earnings Per Share Expected for FedEx Corporation (FDX) This Quarter
Equities analysts forecast that FedEx Corporation (NYSE:FDX) will announce earnings of $2.86 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for FedEx Corporation’s earnings, with estimates ranging from $2.65 to $3.04. FedEx Corporation reported earnings of $2.80 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.1%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, December 19th.
On average, analysts expect that FedEx Corporation will report full-year earnings of $12.47 per share for the current financial year, with EPS estimates ranging from $12.20 to $12.75. For the next fiscal year, analysts anticipate that the company will post earnings of $15.00 per share, with EPS estimates ranging from $14.70 to $15.54. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for FedEx Corporation.
FedEx Corporation (NYSE:FDX) last issued its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same period last year, the firm earned $2.90 earnings per share. FedEx Corporation’s revenue for the quarter was up 4.1% on a year-over-year basis.
FDX has been the topic of a number of analyst reports. Vetr downgraded shares of FedEx Corporation to a “sell” rating and set a $204.84 target price on the stock. in a research note on Thursday, August 31st. J P Morgan Chase & Co lifted their target price on shares of FedEx Corporation from $237.00 to $264.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Credit Suisse Group reaffirmed an “outperform” rating and set a $233.00 target price (down from $242.00) on shares of FedEx Corporation in a research note on Friday, September 15th. Robert W. Baird reaffirmed a “buy” rating and set a $235.00 target price on shares of FedEx Corporation in a research note on Tuesday, September 12th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $240.00 target price on shares of FedEx Corporation in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $230.21.
FedEx Corporation (NYSE:FDX) opened at $217.83 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63. FedEx Corporation has a 52 week low of $182.89 and a 52 week high of $231.35. The company has a market cap of $58,410.00, a PE ratio of 18.24, a price-to-earnings-growth ratio of 1.37 and a beta of 1.37.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 8th. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.83%.
In other news, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 30,499 shares in the company, valued at approximately $6,709,780. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total transaction of $897,689.00. Following the completion of the transaction, the director now owns 6,080 shares of the company’s stock, valued at approximately $1,371,344. The disclosure for this sale can be found here. Insiders have sold a total of 40,094 shares of company stock valued at $9,024,637 in the last quarter. 8.45% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Strategic Advisors LLC raised its position in FedEx Corporation by 16.7% in the 2nd quarter. Strategic Advisors LLC now owns 2,138 shares of the shipping service provider’s stock valued at $465,000 after purchasing an additional 306 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in FedEx Corporation in the 2nd quarter valued at $435,000. Stevens Capital Management LP raised its position in FedEx Corporation by 60.6% in the 2nd quarter. Stevens Capital Management LP now owns 39,340 shares of the shipping service provider’s stock valued at $8,550,000 after purchasing an additional 14,845 shares during the last quarter. Vanguard Group Inc. raised its position in FedEx Corporation by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after purchasing an additional 492,840 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in FedEx Corporation by 1.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 53,299 shares of the shipping service provider’s stock valued at $11,584,000 after purchasing an additional 707 shares during the last quarter. Institutional investors and hedge funds own 76.07% of the company’s stock.
FedEx Corporation 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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