FedEx Co. (NYSE:FDX) Expected to Announce Quarterly Sales of $16.12 Billion

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.

In related news, CEO Frederick W. Smith sold 155,750 shares of the firm’s stock in a transaction 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 available at this hyperlink. Company insiders own 8.44% of the company’s stock.

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.

Further Reading: What is a Reverse Stock Split?

Get a free copy of the Zacks research report on FedEx (FDX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.