FedEx Corp. Expected to Post Q2 2017 Earnings of $2.88 Per Share (FDX)
FedEx Corp. (NYSE:FDX) – Investment analysts at William Blair dropped their Q2 2017 earnings per share estimates for shares of FedEx Corp. in a report issued on Wednesday. William Blair analyst N. Brochmann now forecasts that the firm will post earnings per share of $2.88 for the quarter, down from their previous estimate of $3.01. William Blair also issued estimates for FedEx Corp.’s Q3 2017 earnings at $2.74 EPS, Q4 2017 earnings at $3.65 EPS and FY2018 earnings at $13.56 EPS.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.09. The company earned $14.70 billion during the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.56%. The company’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 earnings per share.
Several other research analysts have also issued reports on the stock. Wolfe Research raised shares of FedEx Corp. from a “market perform” rating to an “outperform” rating in a research note on Friday, July 1st. Cowen and Company reiterated a “market perform” rating and issued a $110.00 price target on shares of FedEx Corp. in a research report on Sunday, July 31st. Zacks Investment Research downgraded shares of FedEx Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 23rd. Vetr downgraded shares of FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 price target on the stock. in a research report on Monday, August 8th. Finally, Bank of America Corp. reiterated a “buy” rating on shares of FedEx Corp. in a research report on Thursday, June 16th. Nine equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $175.85.
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Shares of FedEx Corp. (NYSE:FDX) traded up 0.17% during mid-day trading on Thursday, hitting $174.15. 1,752,093 shares of the stock were exchanged. FedEx Corp. has a 1-year low of $119.71 and a 1-year high of $175.38. The company’s 50-day moving average is $164.57 and its 200-day moving average is $161.19. The firm has a market cap of $46.24 billion, a price-to-earnings ratio of 26.75 and a beta of 1.35.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. FedEx Corp.’s payout ratio is presently 23.99%.
In other news, Director John A. Edwardson sold 2,882 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $162.63, for a total value of $468,699.66. Following the completion of the sale, the director now owns 29,090 shares of the company’s stock, valued at $4,730,906.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael L. Ducker sold 5,000 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $158.43, for a total transaction of $792,150.00. Following the completion of the sale, the chief executive officer now directly owns 56,265 shares of the company’s stock, valued at approximately $8,914,063.95. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Delta Capital Management LLC bought a new position in FedEx Corp. during the first quarter worth approximately $2,996,000. Kelman Lazarov Inc. bought a new position in FedEx Corp. during the first quarter worth approximately $4,560,000. Benin Management CORP increased its position in FedEx Corp. by 3.6% in the first quarter. Benin Management CORP now owns 27,434 shares of the shipping service provider’s stock worth $4,464,000 after buying an additional 964 shares during the period. FirstMerit Bank N A Trustee increased its position in FedEx Corp. by 7.5% in the first quarter. FirstMerit Bank N A Trustee now owns 1,622 shares of the shipping service provider’s stock worth $264,000 after buying an additional 113 shares during the period. Finally, Howard Capital Management increased its position in FedEx Corp. by 3.1% in the first quarter. Howard Capital Management now owns 76,432 shares of the shipping service provider’s stock worth $12,437,000 after buying an additional 2,291 shares during the period. 73.78% of the stock is owned by institutional investors.
About FedEx Corp.
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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