Equities research analysts forecast that FedEx Co. (NYSE:FDX) will report $16.18 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for FedEx’s earnings, with estimates ranging from $15.80 billion to $16.43 billion. FedEx reported sales of $15.00 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.9%. The business is expected to announce its next earnings results after the market closes on Tuesday, March 20th.
On average, analysts expect that FedEx will report full-year sales of $16.18 billion for the current fiscal year, with estimates ranging from $63.85 billion to $65.14 billion. For the next year, analysts anticipate that the business will report sales of $68.01 billion per share, with estimates ranging from $66.42 billion to $70.23 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover FedEx.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The firm had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. During the same period last year, the firm posted $2.80 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis.
FDX has been the subject of several analyst reports. Loop Capital lifted their price target on shares of FedEx to $318.00 in a report on Thursday, January 4th. Citigroup reissued a “buy” rating and set a $280.00 price target on shares of FedEx in a report on Wednesday, December 20th. Stephens set a $306.00 target price on shares of FedEx and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Bank of America boosted their target price on shares of FedEx from $247.00 to $293.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Wells Fargo & Co set a $275.00 target price on shares of FedEx and gave the stock a “buy” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $275.04.
FedEx (NYSE:FDX) opened at $243.04 on Wednesday. FedEx has a 1-year low of $182.89 and a 1-year high of $274.66. The stock has a market cap of $65,110.00, a PE ratio of 22.34, a P/E/G ratio of 1.41 and a beta of 1.32. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 12th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, March 9th. FedEx’s dividend payout ratio (DPR) is 18.38%.
In related news, COO David J. Bronczek sold 46,555 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the completion of the sale, the chief operating officer now directly owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert B. Carter sold 3,970 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total transaction of $995,398.10. Following the sale, the executive vice president now directly owns 187,025 shares of the company’s stock, valued at $46,892,778.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,541 shares of company stock valued at $13,692,142. 8.45% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of FDX. JT Stratford LLC grew its holdings in FedEx by 21.6% during the second quarter. JT Stratford LLC now owns 1,579 shares of the shipping service provider’s stock valued at $343,000 after purchasing an additional 281 shares during the period. Janus Henderson Group PLC grew its holdings in FedEx by 381.6% during the second quarter. Janus Henderson Group PLC now owns 883,117 shares of the shipping service provider’s stock valued at $191,934,000 after purchasing an additional 699,728 shares during the period. Monetary Management Group Inc. grew its holdings in FedEx by 1.5% during the second quarter. Monetary Management Group Inc. now owns 22,030 shares of the shipping service provider’s stock valued at $4,788,000 after purchasing an additional 335 shares during the period. Gotham Asset Management LLC acquired a new position in FedEx during the second quarter valued at approximately $53,777,000. Finally, BlueCrest Capital Management Ltd grew its holdings in FedEx by 128.9% during the second quarter. BlueCrest Capital Management Ltd now owns 31,042 shares of the shipping service provider’s stock valued at $6,746,000 after purchasing an additional 17,478 shares during the period. 73.94% of the stock is owned by institutional investors and hedge funds.
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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