Equities research analysts expect that FedEx Co. (NYSE:FDX) will report sales of $16.12 billion for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for FedEx’s earnings. The highest sales estimate is $17.33 billion and the lowest is $13.07 billion. FedEx posted sales of $17.81 billion in the same quarter last year, which would indicate a negative year over year growth rate of 9.5%. The firm is expected to announce its next earnings report after the market closes on Tuesday, June 30th.
According to Zacks, analysts expect that FedEx will report full-year sales of $68.00 billion for the current year, with estimates ranging from $64.93 billion to $69.19 billion. For the next fiscal year, analysts expect that the business will report sales of $69.81 billion, with estimates ranging from $64.95 billion to $72.47 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow FedEx.
FDX has been the subject of several recent research reports. Stifel Nicolaus cut their price target on FedEx from $136.00 to $120.00 in a report on Wednesday, March 18th. Wells Fargo & Co increased their target price on FedEx from $146.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Citigroup increased their target price on FedEx from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Barclays cut FedEx from an “overweight” rating to an “equal weight” rating and set a $135.00 target price for the company. in a report on Friday, April 17th. Finally, BMO Capital Markets increased their target price 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. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $151.17.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Acadian Asset Management LLC raised its stake in shares of FedEx by 12.5% in the 4th quarter. Acadian Asset Management LLC now owns 845 shares of the shipping service provider’s stock valued at $127,000 after purchasing an additional 94 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of FedEx in the 4th quarter valued at about $759,000. Rafferty Asset Management LLC raised its stake in shares of FedEx by 57.9% in the 4th quarter. Rafferty Asset Management LLC now owns 2,241 shares of the shipping service provider’s stock valued at $339,000 after purchasing an additional 822 shares during the period. National Asset Management Inc. raised its stake in shares of FedEx by 8.0% in the 4th quarter. National Asset Management Inc. now owns 3,174 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 235 shares during the period. Finally, Columbia Trust Co 01012016 acquired a new stake in shares of FedEx in the 4th quarter valued at about $261,000. 73.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FedEx stock traded up $4.03 on Friday, reaching $138.59. 1,742,580 shares of the company were exchanged, compared to its average volume of 2,363,210. The stock has a fifty day moving average price of $128.56 and a 200-day moving average price of $135.97. The firm has a market capitalization of $33.98 billion, a price-to-earnings ratio of -96.80, a price-to-earnings-growth ratio of 1.15 and a beta of 1.31. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.66. FedEx has a fifty-two week low of $88.69 and a fifty-two week high of $178.50.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Monday, June 29th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, June 26th. FedEx’s payout ratio is presently 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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