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.
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%.
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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