Analysts Anticipate FedEx Co. (FDX) Will Post Quarterly Sales of $16.13 Billion

Wall Street brokerages predict that FedEx Co. (NYSE:FDX) will post sales of $16.13 billion for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for FedEx’s earnings, with the highest sales estimate coming in at $16.43 billion and the lowest estimate coming in at $15.80 billion. FedEx posted sales of $15.00 billion during the same quarter last year, which would suggest a positive year over year growth rate of 7.5%. The business is scheduled to issue its next quarterly earnings results on Tuesday, March 20th.

On average, analysts expect that FedEx will report full year sales of $16.13 billion for the current financial year, with estimates ranging from $62.94 billion to $65.14 billion. For the next fiscal year, analysts expect that the business will report sales of $67.83 billion per share, with estimates ranging from $66.14 billion to $70.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover FedEx.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The business had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $15.67 billion. During the same period in the previous year, the firm earned $2.80 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis.

A number of research firms recently commented on FDX. Wells Fargo & Co boosted their target price on shares of FedEx from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Stifel Nicolaus restated a “hold” rating and set a $221.00 price target (up previously from $216.00) on shares of FedEx in a report on Wednesday, September 20th. Loop Capital restated a “buy” rating and set a $260.00 price target (up previously from $250.00) on shares of FedEx in a report on Wednesday, September 20th. Citigroup boosted their price target on shares of FedEx to $275.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. Finally, KeyCorp assumed coverage on shares of FedEx in a report on Tuesday, October 10th. They set an “overweight” rating and a $260.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $269.95.

FedEx (NYSE:FDX) traded down $2.27 during midday trading on Tuesday, hitting $269.58. 1,668,575 shares of the company were exchanged, compared to its average volume of 1,940,000. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50. FedEx has a twelve month low of $182.89 and a twelve month high of $273.16. The company has a market cap of $72,220.00, a P/E ratio of 24.78, a P/E/G ratio of 1.62 and a beta of 1.36.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, December 8th. FedEx’s payout ratio is presently 18.38%.

In other FedEx news, Director David P. Steiner sold 3,016 shares of the business’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 completion of the sale, the director now directly owns 16,040 shares of the company’s stock, valued at $4,267,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kim Jabal sold 3,980 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total transaction of $897,689.00. Following the completion of the sale, the director now directly owns 6,080 shares of the company’s stock, valued at $1,371,344. The disclosure for this sale can be found here. Insiders sold 68,671 shares of company stock valued at $17,137,160 over the last three months. Insiders own 8.45% of the company’s stock.

A number of hedge funds have recently bought and sold shares of FDX. Vanguard Group Inc. boosted its holdings in shares of FedEx by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after buying an additional 492,840 shares during the period. FMR LLC boosted its holdings in shares of FedEx by 0.3% during the 2nd quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after buying an additional 15,382 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of FedEx by 7.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock worth $885,594,000 after buying an additional 266,660 shares during the period. Capital World Investors boosted its holdings in shares of FedEx by 16.1% during the 2nd quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after buying an additional 501,617 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of FedEx by 3.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 3,612,357 shares of the shipping service provider’s stock worth $814,875,000 after buying an additional 116,500 shares during the period. 75.69% of the stock is owned by institutional investors.

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FedEx 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.

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