Brokerages Anticipate FedEx Co. (FDX) to Post $3.04 Earnings Per Share

Wall Street brokerages expect FedEx Co. (NYSE:FDX) to post earnings per share of $3.04 for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for FedEx’s earnings, with estimates ranging from $2.77 to $3.37. FedEx posted earnings per share of $2.35 in the same quarter last year, which indicates a positive year over year growth rate of 29.4%. The business is expected to issue its next quarterly earnings report after the market closes on Tuesday, March 20th.

According to Zacks, analysts expect that FedEx will report full year earnings of $13.45 per share for the current financial year, with EPS estimates ranging from $12.95 to $13.97. For the next financial year, analysts forecast that the business will report earnings of $16.70 per share, with EPS estimates ranging from $15.50 to $18.12. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for FedEx.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. During the same period last year, the company earned $2.80 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year.

FDX has been the topic of several analyst reports. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Goldman Sachs Group initiated coverage on shares of FedEx in a research note on Monday, November 13th. They set a “buy” rating and a $270.00 price target on the stock. Sanford C. Bernstein set a $212.00 price target on shares of FedEx and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Barclays reaffirmed an “overweight” rating and set a $270.00 price target (up from $230.00) on shares of FedEx in a research note on Thursday, November 30th. They noted that the move was a valuation call. Finally, Citigroup raised their price target on shares of FedEx to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $272.69.

FedEx (NYSE:FDX) traded up $2.13 during trading on Friday, hitting $245.43. 1,383,457 shares of the company’s stock traded hands, compared to its average volume of 1,850,000. FedEx has a one year low of $182.89 and a one year high of $274.66. The firm has a market cap of $65,750.00, a PE ratio of 22.56, a P/E/G ratio of 1.41 and a beta of 1.30. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50.

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 issued a $0.50 dividend. The ex-dividend date is Friday, March 9th. This represents a $2.00 annualized dividend and a yield of 0.81%. FedEx’s payout ratio is 18.38%.

In related news, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the transaction, the director now owns 16,040 shares in the company, valued at $4,267,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert B. Carter sold 3,970 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total transaction of $995,398.10. Following the completion of the transaction, the executive vice president now owns 187,025 shares in the company, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. Insiders sold 53,541 shares of company stock worth $13,692,142 in the last 90 days. 8.45% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its holdings in FedEx by 27.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,604 shares of the shipping service provider’s stock valued at $4,393,000 after buying an additional 3,807 shares during the period. Rehmann Capital Advisory Group raised its holdings in FedEx by 18.7% in the fourth quarter. Rehmann Capital Advisory Group now owns 2,021 shares of the shipping service provider’s stock valued at $504,000 after buying an additional 318 shares during the period. Xact Kapitalforvaltning AB raised its holdings in FedEx by 8.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 38,868 shares of the shipping service provider’s stock valued at $9,699,000 after buying an additional 3,166 shares during the period. Envestnet Asset Management Inc. raised its holdings in FedEx by 38.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 61,913 shares of the shipping service provider’s stock valued at $15,448,000 after buying an additional 17,129 shares during the period. Finally, Griffin Asset Management Inc. raised its holdings in FedEx by 12.0% in the fourth quarter. Griffin Asset Management Inc. now owns 6,030 shares of the shipping service provider’s stock valued at $1,505,000 after buying an additional 645 shares during the period. Hedge funds and other institutional investors own 74.01% of the company’s stock.

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About FedEx

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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