Zacks: Analysts Anticipate FedEx Co. (NYSE:FDX) Will Post Quarterly Sales of $17.58 Billion
Equities analysts expect FedEx Co. (NYSE:FDX) to post $17.58 billion in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for FedEx’s earnings, with the lowest sales estimate coming in at $16.22 billion and the highest estimate coming in at $18.13 billion. FedEx posted sales of $17.82 billion during the same quarter last year, which would indicate a negative year over year growth rate of 1.3%. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, December 17th.
According to Zacks, analysts expect that FedEx will report full-year sales of $69.72 billion for the current year, with estimates ranging from $66.06 billion to $71.00 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $72.39 billion, with estimates ranging from $68.02 billion to $74.33 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow FedEx.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.12). The firm had revenue of $17.05 billion during the quarter, compared to the consensus estimate of $17.05 billion. FedEx had a return on equity of 21.15% and a net margin of 0.65%. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.46 EPS.
In related news, EVP Robert B. Carter sold 23,100 shares of FedEx stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the sale, the executive vice president now directly owns 68,446 shares in the company, valued at $12,031,437.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Brad Martin purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $145.00 per share, for a total transaction of $145,000.00. Following the completion of the acquisition, the director now directly owns 49,046 shares of the company’s stock, valued at approximately $7,111,670. The disclosure for this purchase can be found here. Company insiders own 8.44% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. lifted its holdings in FedEx by 15.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,735 shares of the shipping service provider’s stock worth $253,000 after acquiring an additional 232 shares during the period. Cardinal Capital Management lifted its holdings in FedEx by 0.6% during the third quarter. Cardinal Capital Management now owns 14,266 shares of the shipping service provider’s stock worth $2,076,000 after acquiring an additional 90 shares during the period. Kistler Tiffany Companies LLC lifted its holdings in FedEx by 20.1% during the third quarter. Kistler Tiffany Companies LLC now owns 11,600 shares of the shipping service provider’s stock worth $1,689,000 after acquiring an additional 1,941 shares during the period. Beech Hill Advisors Inc. lifted its holdings in FedEx by 3.2% during the third quarter. Beech Hill Advisors Inc. now owns 3,250 shares of the shipping service provider’s stock worth $473,000 after acquiring an additional 100 shares during the period. Finally, Country Club Trust Company n.a. lifted its holdings in FedEx by 1.2% during the third quarter. Country Club Trust Company n.a. now owns 21,913 shares of the shipping service provider’s stock worth $3,177,000 after acquiring an additional 259 shares during the period. Institutional investors and hedge funds own 71.33% of the company’s stock.
Shares of NYSE:FDX opened at $149.91 on Friday. The business’s 50 day simple moving average is $152.91 and its two-hundred day simple moving average is $165.90. The firm has a market cap of $39.32 billion, a P/E ratio of 9.97, a PEG ratio of 1.04 and a beta of 1.72. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.25 and a current ratio of 1.31. FedEx has a 52-week low of $137.78 and a 52-week high of $234.49.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.60 dividend on an annualized basis and a yield of 1.73%. FedEx’s dividend payout ratio (DPR) is currently 16.75%.
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.
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