Zacks: Brokerages Anticipate FedEx Co. (NYSE:FDX) to Post $6.80 Earnings Per Share

Brokerages expect that FedEx Co. (NYSE:FDXGet Rating) will announce earnings of $6.80 per share for the current quarter, Zacks reports. Seven analysts have made estimates for FedEx’s earnings, with estimates ranging from $6.20 to $7.22. FedEx posted earnings of $5.01 per share during the same quarter last year, which indicates a positive year over year growth rate of 35.7%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that FedEx will report full year earnings of $20.54 per share for the current financial year, with EPS estimates ranging from $20.00 to $21.00. For the next year, analysts forecast that the firm will report earnings of $22.60 per share, with EPS estimates ranging from $21.85 to $23.88. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for FedEx.

FedEx (NYSE:FDXGet Rating) last released its quarterly earnings results on Thursday, March 17th. The shipping service provider reported $4.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.64 by ($0.05). The firm had revenue of $23.64 billion for the quarter, compared to analyst estimates of $23.33 billion. FedEx had a return on equity of 20.67% and a net margin of 5.60%. FedEx’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.47 earnings per share.

A number of equities research analysts have recently commented on the company. Cowen lifted their price objective on FedEx from $283.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, December 17th. Stephens dropped their price objective on shares of FedEx from $345.00 to $285.00 and set an “overweight” rating for the company in a research note on Friday, March 18th. Wells Fargo & Company decreased their target price on shares of FedEx from $314.00 to $277.00 and set an “overweight” rating on the stock in a research report on Friday, March 18th. Sanford C. Bernstein set a $333.00 price target on shares of FedEx in a research report on Friday, March 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of FedEx from $310.00 to $298.00 and set a “buy” rating on the stock in a report on Monday, March 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $299.55.

Large investors have recently bought and sold shares of the business. OLD Mission Capital LLC purchased a new stake in FedEx during the 3rd quarter worth approximately $219,000. Morgan Stanley raised its holdings in FedEx by 17.8% in the second quarter. Morgan Stanley now owns 1,860,142 shares of the shipping service provider’s stock valued at $554,936,000 after acquiring an additional 281,250 shares in the last quarter. Jag Capital Management LLC bought a new position in FedEx during the 3rd quarter valued at $2,202,000. Gateway Investment Advisers LLC grew its holdings in FedEx by 16.9% during the 3rd quarter. Gateway Investment Advisers LLC now owns 3,451 shares of the shipping service provider’s stock worth $757,000 after acquiring an additional 498 shares in the last quarter. Finally, Trust Co. of Vermont increased its position in shares of FedEx by 46.5% in the 3rd quarter. Trust Co. of Vermont now owns 3,297 shares of the shipping service provider’s stock worth $723,000 after purchasing an additional 1,047 shares during the last quarter. 77.76% of the stock is owned by institutional investors.

Shares of FDX opened at $204.12 on Friday. FedEx has a fifty-two week low of $199.03 and a fifty-two week high of $319.90. The company has a market capitalization of $52.90 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 0.82 and a beta of 1.31. The stock has a fifty day moving average of $223.20 and a two-hundred day moving average of $235.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.35 and a current ratio of 1.39.

FedEx announced that its board has initiated a stock buyback program on Thursday, December 16th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to buy up to 7.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Monday, March 7th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, March 4th. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. FedEx’s dividend payout ratio (DPR) is presently 15.75%.

FedEx Company Profile (Get Rating)

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 e-commerce technology and e-commerce transportation solutions.

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