Brokerages expect FedEx (NYSE:FDX) to announce sales of $17.16 billion for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for FedEx’s earnings, with the highest sales estimate coming in at $17.51 billion and the lowest estimate coming in at $16.73 billion. FedEx reported sales of $15.73 billion during the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The business is scheduled to issue its next quarterly earnings results on Tuesday, June 19th.
On average, analysts expect that FedEx will report full year sales of $17.16 billion for the current fiscal year, with estimates ranging from $64.87 billion to $65.65 billion. For the next financial year, analysts expect that the business will report sales of $69.03 billion per share, with estimates ranging from $67.25 billion to $70.92 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover FedEx.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.61. The company had revenue of $16.53 billion for the quarter, compared to analysts’ expectations of $16.17 billion. FedEx had a return on equity of 21.65% and a net margin of 6.99%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $2.35 earnings per share.
FDX has been the topic of a number of recent research reports. Credit Suisse Group cut their target price on FedEx from $314.00 to $306.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 21st. Zacks Investment Research lowered FedEx from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. UBS raised FedEx from a “neutral” rating to a “buy” rating and raised their price target for the company from $264.00 to $302.00 in a report on Friday, January 5th. Sanford C. Bernstein set a $236.00 price target on FedEx and gave the company a “hold” rating in a report on Wednesday, December 20th. Finally, Loop Capital raised their price target on FedEx to $318.00 in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. FedEx currently has an average rating of “Buy” and an average target price of $281.51.
Large investors have recently added to or reduced their stakes in the stock. Ingalls & Snyder LLC boosted its position in shares of FedEx by 2.4% in the 4th quarter. Ingalls & Snyder LLC now owns 8,119 shares of the shipping service provider’s stock valued at $2,026,000 after purchasing an additional 193 shares during the period. Bremer Trust National Association boosted its position in shares of FedEx by 2.6% in the 4th quarter. Bremer Trust National Association now owns 7,822 shares of the shipping service provider’s stock valued at $1,952,000 after purchasing an additional 197 shares during the period. Central Bank & Trust Co. boosted its position in shares of FedEx by 2.2% in the 4th quarter. Central Bank & Trust Co. now owns 9,345 shares of the shipping service provider’s stock valued at $2,332,000 after purchasing an additional 201 shares during the period. Cobiz Wealth LLC boosted its position in shares of FedEx by 0.8% in the 4th quarter. Cobiz Wealth LLC now owns 25,472 shares of the shipping service provider’s stock valued at $6,356,000 after purchasing an additional 202 shares during the period. Finally, MAI Capital Management boosted its position in shares of FedEx by 14.1% in the 4th quarter. MAI Capital Management now owns 1,632 shares of the shipping service provider’s stock valued at $407,000 after purchasing an additional 202 shares during the period. 74.69% of the stock is currently owned by hedge funds and other institutional investors.
FDX stock opened at $241.91 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $63,757.72, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.23 and a beta of 1.38. FedEx has a 1 year low of $182.89 and a 1 year high of $274.66.
The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Monday, March 12th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Friday, March 9th. FedEx’s payout ratio is currently 16.26%.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.
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