Zacks: Analysts Expect FedEx Corporation (FDX) Will Post Quarterly Sales of $15.36 Billion
Equities analysts expect FedEx Corporation (NYSE:FDX) to post sales of $15.36 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for FedEx Corporation’s earnings. The lowest sales estimate is $14.89 billion and the highest is $15.63 billion. FedEx Corporation posted sales of $14.66 billion during the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The firm is expected to report its next earnings results after the market closes on Tuesday, September 19th.
According to Zacks, analysts expect that FedEx Corporation will report full-year sales of $15.36 billion for the current year, with estimates ranging from $62.09 billion to $64.08 billion. For the next fiscal year, analysts forecast that the firm will post sales of $66.43 billion per share, with estimates ranging from $65.01 billion to $69.08 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow FedEx Corporation.
FedEx Corporation (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.88 by $0.37. The business had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.56 billion. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The business’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.30 earnings per share.
Several equities research analysts have recently commented on FDX shares. Zacks Investment Research upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a report on Tuesday, May 23rd. Vetr upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price target for the company in a report on Wednesday, May 17th. ValuEngine upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. UBS AG restated a “buy” rating and issued a $235.00 price target (up previously from $215.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Finally, Deutsche Bank AG set a $235.00 price target on shares of FedEx Corporation and gave the company a “buy” rating in a report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $221.72.
COPYRIGHT VIOLATION WARNING: This story was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/09/10/zacks-analysts-expect-fedex-corporation-fdx-will-post-quarterly-sales-of-15-36-billion.html.
In other news, Director Kim Jabal sold 5,918 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $216.05, for a total value of $1,278,583.90. Following the sale, the director now directly owns 3,610 shares of the company’s stock, valued at approximately $779,940.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 24,522 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total transaction of $5,173,161.12. Following the completion of the sale, the executive vice president now directly owns 68,556 shares in the company, valued at $14,462,573.76. The disclosure for this sale can be found here. Insiders sold a total of 77,757 shares of company stock worth $16,447,426 over the last ninety days. Insiders own 8.45% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FDX. Janney Montgomery Scott LLC boosted its holdings in shares of FedEx Corporation by 66.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 52,592 shares of the shipping service provider’s stock valued at $10,263,000 after acquiring an additional 21,043 shares during the last quarter. K.J. Harrison & Partners Inc purchased a new stake in shares of FedEx Corporation in the 1st quarter valued at $390,000. Kanawha Capital Management LLC purchased a new stake in shares of FedEx Corporation in the 1st quarter valued at $201,000. New Jersey Better Educational Savings Trust boosted its holdings in shares of FedEx Corporation by 16.7% in the 1st quarter. New Jersey Better Educational Savings Trust now owns 3,500 shares of the shipping service provider’s stock valued at $683,000 after acquiring an additional 500 shares during the last quarter. Finally, Parsec Financial Management Inc. boosted its holdings in shares of FedEx Corporation by 30.3% in the 1st quarter. Parsec Financial Management Inc. now owns 19,740 shares of the shipping service provider’s stock valued at $3,852,000 after acquiring an additional 4,593 shares during the last quarter. 75.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of FedEx Corporation (FDX) opened at 210.48 on Friday. FedEx Corporation has a one year low of $158.20 and a one year high of $219.99. The stock has a market cap of $56.46 billion, a PE ratio of 19.01 and a beta of 1.28. The firm has a 50-day moving average of $209.41 and a 200-day moving average of $201.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, September 8th. FedEx Corporation’s dividend payout ratio (DPR) is currently 18.08%.
FedEx Corporation Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for FedEx Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corporation and related companies with MarketBeat.com's FREE daily email newsletter.