Zacks: Analysts Expect FedEx Co. (FDX) Will Post Earnings of $4.91 Per Share

Equities research analysts predict that FedEx Co. (NYSE:FDX) will announce $4.91 earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for FedEx’s earnings, with estimates ranging from $4.57 to $5.10. FedEx posted earnings of $5.91 per share in the same quarter last year, which indicates a negative year over year growth rate of 16.9%. The business is scheduled to issue its next quarterly earnings report on Tuesday, June 18th.

On average, analysts expect that FedEx will report full year earnings of $15.44 per share for the current financial year, with EPS estimates ranging from $15.10 to $15.63. For the next financial year, analysts expect that the business will post earnings of $16.53 per share, with EPS estimates ranging from $15.22 to $17.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover FedEx.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.10 by ($0.07). The business had revenue of $17.01 billion during the quarter, compared to analyst estimates of $17.70 billion. FedEx had a return on equity of 22.67% and a net margin of 5.25%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.72 EPS.

FDX has been the topic of several recent research reports. Daiwa Capital Markets set a $190.00 price objective on shares of FedEx and gave the stock a “buy” rating in a research note on Thursday, December 20th. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. BMO Capital Markets dropped their target price on shares of FedEx to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 19th. They noted that the move was a valuation call. ValuEngine raised shares of FedEx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 26th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $233.00 target price on shares of FedEx in a research report on Monday, December 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $214.19.

Shares of FDX traded up $0.09 during mid-day trading on Thursday, hitting $198.15. The company’s stock had a trading volume of 1,363,394 shares, compared to its average volume of 2,032,828. The stock has a market capitalization of $51.12 billion, a P/E ratio of 12.94, a P/E/G ratio of 0.99 and a beta of 1.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40. FedEx has a fifty-two week low of $150.94 and a fifty-two week high of $266.67.

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is currently 16.98%.

In related news, Director Susan C. Schwab sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $175.11, for a total transaction of $525,330.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP John L. Merino sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $182.24, for a total transaction of $419,152.00. Following the sale, the vice president now owns 30,185 shares of the company’s stock, valued at $5,500,914.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 187,950 shares of company stock valued at $35,170,622. 8.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of FDX. Vanguard Group Inc lifted its stake in FedEx by 0.5% in the third quarter. Vanguard Group Inc now owns 19,396,617 shares of the shipping service provider’s stock valued at $4,670,511,000 after acquiring an additional 96,084 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in FedEx by 15,104.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock valued at $87,000 after acquiring an additional 13,970,642 shares during the last quarter. Dodge & Cox lifted its stake in FedEx by 20.0% in the third quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock valued at $2,983,666,000 after acquiring an additional 2,065,853 shares during the last quarter. Northern Trust Corp lifted its stake in FedEx by 3.0% in the fourth quarter. Northern Trust Corp now owns 2,859,318 shares of the shipping service provider’s stock valued at $461,295,000 after acquiring an additional 84,617 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in FedEx by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 2,746,237 shares of the shipping service provider’s stock valued at $442,149,000 after acquiring an additional 185,252 shares during the last quarter. Institutional investors and hedge funds own 71.70% of the company’s stock.

FedEx Company Profile

FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.

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Earnings History and Estimates for FedEx (NYSE:FDX)

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