FedEx (NYSE:FDX) Releases Earnings Results

FedEx (NYSE:FDXGet Rating) announced its quarterly earnings data on Thursday. The shipping service provider reported $3.44 EPS for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70), Yahoo Finance reports. FedEx had a net margin of 4.09% and a return on equity of 22.29%. The firm had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.78 billion. During the same period in the prior year, the company posted $4.37 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis.

FedEx Price Performance

NYSE:FDX traded up $1.29 during mid-day trading on Thursday, hitting $154.54. 10,183,165 shares of the company’s stock traded hands, compared to its average volume of 2,615,762. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.38 and a current ratio of 1.43. The firm’s 50 day simple moving average is $217.35 and its 200 day simple moving average is $216.76. FedEx has a 1 year low of $150.34 and a 1 year high of $266.79. The company has a market cap of $40.17 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 0.72 and a beta of 1.21.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.60 annualized dividend and a yield of 2.98%. FedEx’s dividend payout ratio (DPR) is currently 32.17%.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Jill Brannon sold 5,620 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $237.00, for a total transaction of $1,331,940.00. Following the completion of the transaction, the executive vice president now directly owns 8,113 shares in the company, valued at approximately $1,922,781. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, Director Vincenzo J. Vena purchased 900 shares of FedEx stock in a transaction on Wednesday, July 6th. The shares were purchased at an average cost of $230.04 per share, with a total value of $207,036.00. Following the completion of the transaction, the director now directly owns 1,325 shares in the company, valued at approximately $304,803. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jill Brannon sold 5,620 shares of FedEx stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $237.00, for a total transaction of $1,331,940.00. Following the transaction, the executive vice president now directly owns 8,113 shares in the company, valued at $1,922,781. The disclosure for this sale can be found here. In the last three months, insiders sold 48,810 shares of company stock worth $11,199,898. 8.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kingsview Wealth Management LLC purchased a new stake in shares of FedEx during the second quarter valued at approximately $576,000. Thrivent Financial for Lutherans raised its stake in shares of FedEx by 15.6% during the second quarter. Thrivent Financial for Lutherans now owns 16,498 shares of the shipping service provider’s stock valued at $3,740,000 after purchasing an additional 2,223 shares during the period. Wexford Capital LP raised its stake in shares of FedEx by 21.1% during the second quarter. Wexford Capital LP now owns 2,648 shares of the shipping service provider’s stock valued at $600,000 after purchasing an additional 461 shares during the period. Poplar Forest Capital LLC raised its stake in shares of FedEx by 169.8% during the second quarter. Poplar Forest Capital LLC now owns 117,181 shares of the shipping service provider’s stock valued at $26,566,000 after purchasing an additional 73,751 shares during the period. Finally, Orion Portfolio Solutions LLC increased its stake in shares of FedEx by 5.8% in the first quarter. Orion Portfolio Solutions LLC now owns 2,046 shares of the shipping service provider’s stock worth $473,000 after buying an additional 113 shares during the last quarter. 71.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FDX has been the subject of several research analyst reports. Evercore ISI lowered their target price on shares of FedEx from $318.00 to $243.00 and set an “outperform” rating for the company in a report on Friday, September 16th. KeyCorp upped their target price on shares of FedEx from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Thursday, June 30th. UBS Group lowered their target price on shares of FedEx from $308.00 to $232.00 and set a “buy” rating for the company in a report on Friday, September 16th. JPMorgan Chase & Co. cut shares of FedEx from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $258.00 to $214.00 in a report on Friday, September 16th. Finally, Credit Suisse Group lowered their target price on shares of FedEx from $314.00 to $246.00 and set an “outperform” rating for the company in a report on Friday, September 16th. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $238.30.

About FedEx

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

Further Reading

Earnings History for FedEx (NYSE:FDX)

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