Analysts Expect FedEx Co. (NYSE:FDX) Will Announce Quarterly Sales of $22.53 Billion

Wall Street analysts expect that FedEx Co. (NYSE:FDX) will report sales of $22.53 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for FedEx’s earnings. The highest sales estimate is $23.30 billion and the lowest is $22.18 billion. FedEx posted sales of $20.56 billion during the same quarter last year, which would indicate a positive year over year growth rate of 9.6%. The firm is expected to issue its next earnings results on Thursday, December 16th.

On average, analysts expect that FedEx will report full year sales of $90.51 billion for the current fiscal year, with estimates ranging from $89.46 billion to $92.87 billion. For the next fiscal year, analysts expect that the business will report sales of $94.25 billion, with estimates ranging from $90.82 billion to $95.94 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow FedEx.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Monday, September 20th. The shipping service provider reported $4.37 earnings per share for the quarter, missing analysts’ consensus estimates of $4.92 by ($0.55). FedEx had a return on equity of 20.93% and a net margin of 5.88%. The company had revenue of $22 billion for the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter last year, the company earned $4.87 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year.

A number of research firms have commented on FDX. Bank of America decreased their price target on FedEx from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, October 4th. Cowen cut their price objective on FedEx from $297.00 to $283.00 and set an “outperform” rating on the stock in a report on Wednesday, October 6th. Morgan Stanley cut their price objective on FedEx from $270.00 to $250.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 22nd. DZ Bank reissued a “sell” rating on shares of FedEx in a report on Friday, June 25th. Finally, Loop Capital cut their price objective on FedEx from $381.00 to $324.00 and set a “buy” rating on the stock in a report on Thursday, September 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $315.13.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. Vanguard Group Inc. lifted its position in FedEx by 1.1% during the second quarter. Vanguard Group Inc. now owns 18,300,555 shares of the shipping service provider’s stock worth $5,459,605,000 after buying an additional 190,583 shares in the last quarter. Primecap Management Co. CA raised its position in FedEx by 1.6% in the first quarter. Primecap Management Co. CA now owns 13,936,709 shares of the shipping service provider’s stock valued at $3,958,583,000 after purchasing an additional 219,370 shares during the period. Price T Rowe Associates Inc. MD raised its position in FedEx by 2.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 10,362,196 shares of the shipping service provider’s stock valued at $3,091,354,000 after purchasing an additional 231,510 shares during the period. FMR LLC raised its position in FedEx by 24.4% in the second quarter. FMR LLC now owns 4,561,732 shares of the shipping service provider’s stock valued at $1,360,901,000 after purchasing an additional 895,454 shares during the period. Finally, Geode Capital Management LLC raised its position in FedEx by 1.3% in the second quarter. Geode Capital Management LLC now owns 3,672,765 shares of the shipping service provider’s stock valued at $1,092,110,000 after purchasing an additional 45,377 shares during the period. Institutional investors and hedge funds own 72.64% of the company’s stock.

FedEx stock opened at $223.73 on Thursday. The stock has a 50-day moving average of $252.69 and a two-hundred day moving average of $280.28. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.47 and a current ratio of 1.51. FedEx has a one year low of $216.34 and a one year high of $319.90. The stock has a market cap of $59.43 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 0.96 and a beta of 1.28.

The company also recently announced a quarterly dividend, which was paid on Friday, October 1st. Stockholders of record on Friday, September 3rd were given a $0.75 dividend. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a $3.00 annualized dividend and a dividend yield of 1.34%. FedEx’s dividend payout ratio (DPR) is presently 16.51%.

About FedEx

FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. 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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