Brokerages Expect FedEx Co. (NYSE:FDX) Will Post Earnings of $1.42 Per Share

Equities analysts expect FedEx Co. (NYSE:FDX) to post earnings per share of $1.42 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for FedEx’s earnings, with the highest EPS estimate coming in at $1.79 and the lowest estimate coming in at $0.73. FedEx posted earnings of $5.01 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 71.7%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, June 30th.

According to Zacks, analysts expect that FedEx will report full year earnings of $8.56 per share for the current fiscal year, with EPS estimates ranging from $7.72 to $9.85. For the next year, analysts expect that the company will report earnings of $9.39 per share, with EPS estimates ranging from $5.89 to $10.86. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow FedEx.

A number of brokerages recently weighed in on FDX. Bank of America raised FedEx from a “neutral” rating to a “buy” rating and raised their price objective for the company from $117.00 to $140.00 in a research note on Monday, April 13th. BMO Capital Markets lifted their price objective on FedEx from $115.00 to $130.00 and gave the stock a “market perform” rating in a report on Monday, June 22nd. They noted that the move was a valuation call. Cowen decreased their price target on FedEx from $185.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Raymond James cut their price objective on FedEx from $167.00 to $150.00 and set an “outperform” rating for the company in a research report on Wednesday, March 18th. Finally, Daiwa Capital Markets boosted their target price on FedEx from $104.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have given a buy rating to the stock. FedEx has a consensus rating of “Hold” and a consensus price target of $151.17.

In related news, CEO Frederick W. Smith sold 155,750 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $117.71, for a total transaction of $18,333,332.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.44% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Utah Retirement Systems grew its holdings in shares of FedEx by 0.4% during the fourth quarter. Utah Retirement Systems now owns 45,987 shares of the shipping service provider’s stock valued at $6,953,000 after buying an additional 200 shares during the last quarter. Watchman Group Inc. bought a new stake in shares of FedEx in the 4th quarter worth about $2,310,000. Sailer Financial LLC bought a new stake in shares of FedEx in the 4th quarter worth about $353,000. Piedmont Investment Advisors Inc. boosted its stake in shares of FedEx by 21.2% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 4,513 shares of the shipping service provider’s stock worth $682,000 after purchasing an additional 788 shares during the period. Finally, Bank of Hawaii boosted its stake in shares of FedEx by 204.7% during the 4th quarter. Bank of Hawaii now owns 4,659 shares of the shipping service provider’s stock worth $704,000 after purchasing an additional 3,130 shares during the period. 73.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FDX traded up $4.03 during trading hours on Thursday, reaching $138.59. 1,742,580 shares of the company’s stock traded hands, compared to its average volume of 2,363,210. FedEx has a twelve month low of $88.69 and a twelve month high of $178.50. The business’s fifty day simple moving average is $128.56 and its two-hundred day simple moving average is $135.97. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.21 and a quick ratio of 1.16. The firm has a market capitalization of $33.98 billion, a price-to-earnings ratio of -96.80, a P/E/G ratio of 1.15 and a beta of 1.31.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Monday, June 29th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Friday, June 26th. FedEx’s dividend payout ratio is currently 16.75%.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Earnings History and Estimates for FedEx (NYSE:FDX)

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