Equities research analysts forecast that FedEx Co. (NYSE:FDX) will post earnings per share (EPS) of $4.07 for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for FedEx’s earnings. The lowest EPS estimate is $3.79 and the highest is $4.35. FedEx posted earnings per share of $3.18 in the same quarter last year, which indicates a positive year-over-year growth rate of 28%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, December 18th.
On average, analysts expect that FedEx will report full-year earnings of $17.37 per share for the current fiscal year, with EPS estimates ranging from $17.23 to $17.50. For the next financial year, analysts forecast that the business will post earnings of $20.19 per share, with EPS estimates ranging from $19.74 to $20.95. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow FedEx.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.78 by ($0.32). The business had revenue of $17.05 billion during the quarter, compared to analyst estimates of $16.88 billion. FedEx had a return on equity of 23.71% and a net margin of 7.16%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the company earned $2.65 EPS.
A number of analysts recently weighed in on the stock. Berenberg Bank started coverage on shares of FedEx in a report on Friday, September 21st. They issued a “buy” rating and a $300.00 price target for the company. Robert W. Baird lifted their price target on shares of FedEx from $265.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 18th. Morgan Stanley reaffirmed a “hold” rating and issued a $242.00 price objective (down from $245.00) on shares of FedEx in a research report on Tuesday, September 18th. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Wolfe Research set a $275.00 price target on shares of FedEx and gave the company a “buy” rating in a research note on Tuesday, September 18th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. FedEx currently has a consensus rating of “Buy” and an average target price of $285.85.
In other news, Director John A. Edwardson sold 1,160 shares of the stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the sale, the director now owns 32,800 shares in the company, valued at $7,949,080. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan Patricia Griffith bought 1,000 shares of the stock in a transaction dated Wednesday, October 17th. The stock was purchased at an average price of $225.16 per share, with a total value of $225,160.00. The disclosure for this purchase can be found here. Corporate insiders own 8.45% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Palo Capital Inc. purchased a new stake in FedEx during the third quarter worth about $108,000. Virtus Alternative Investment Advisers Inc. purchased a new stake in FedEx during the third quarter worth about $110,000. Lenox Wealth Advisors LLC purchased a new stake in FedEx during the third quarter worth about $120,000. Fortis Advisors LLC increased its holdings in FedEx by 278.2% during the second quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock worth $115,000 after buying an additional 370 shares during the last quarter. Finally, TRUE Private Wealth Advisors purchased a new stake in FedEx during the third quarter worth about $134,000. Institutional investors and hedge funds own 72.11% of the company’s stock.
Shares of NYSE FDX traded down $13.55 during mid-day trading on Friday, hitting $201.51. 218,257 shares of the stock were exchanged, compared to its average volume of 1,259,365. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.79. The firm has a market cap of $56.79 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.97 and a beta of 1.35. FedEx has a twelve month low of $207.90 and a twelve month high of $274.66.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 10th will be issued a $0.65 dividend. The ex-dividend date is Friday, December 7th. This represents a $2.60 annualized dividend and a dividend yield of 1.29%. FedEx’s dividend payout ratio is currently 16.98%.
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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