FedEx Co. (NYSE:FDX) Expected to Post Quarterly Sales of $24.28 Billion

Analysts expect FedEx Co. (NYSE:FDXGet Rating) to post $24.28 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for FedEx’s earnings, with the highest sales estimate coming in at $25.73 billion and the lowest estimate coming in at $23.33 billion. FedEx reported sales of $22.57 billion in the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The company is expected to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that FedEx will report full-year sales of $93.40 billion for the current year, with estimates ranging from $92.45 billion to $94.85 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $97.77 billion, with estimates ranging from $95.97 billion to $101.35 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for FedEx.

FedEx (NYSE:FDXGet Rating) last issued its quarterly earnings results on Thursday, March 17th. The shipping service provider reported $4.59 EPS for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.10). FedEx had a return on equity of 20.67% and a net margin of 5.60%. The business had revenue of $23.64 billion for the quarter, compared to analyst estimates of $23.33 billion. During the same quarter last year, the firm earned $3.47 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year.

FDX has been the subject of several recent analyst reports. KeyCorp dropped their price objective on FedEx from $325.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, March 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on FedEx from $310.00 to $298.00 and set a “buy” rating for the company in a research note on Monday, March 21st. JPMorgan Chase & Co. dropped their price objective on FedEx from $297.00 to $282.00 and set an “overweight” rating for the company in a research note on Friday, March 18th. Morgan Stanley decreased their target price on FedEx from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Friday, March 18th. Finally, Barclays decreased their target price on FedEx from $345.00 to $320.00 in a report on Friday, March 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $299.55.

In other FedEx news, Director Paul S. Walsh sold 3,720 shares of the company’s stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $206.42, for a total value of $767,882.40. Following the completion of the transaction, the director now owns 14,000 shares of the company’s stock, valued at approximately $2,889,880. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.16% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. Dodge & Cox raised its stake in FedEx by 22.2% during the 4th quarter. Dodge & Cox now owns 16,674,920 shares of the shipping service provider’s stock worth $4,312,801,000 after buying an additional 3,031,046 shares during the period. Norges Bank purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $593,029,000. Renaissance Technologies LLC increased its position in shares of FedEx by 5,753.1% during the third quarter. Renaissance Technologies LLC now owns 755,054 shares of the shipping service provider’s stock valued at $165,576,000 after acquiring an additional 742,154 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of FedEx by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,261,999 shares of the shipping service provider’s stock valued at $496,034,000 after acquiring an additional 583,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in FedEx by 11,807.1% during the first quarter. Assenagon Asset Management S.A. now owns 548,918 shares of the shipping service provider’s stock valued at $127,014,000 after purchasing an additional 544,308 shares during the period. Hedge funds and other institutional investors own 79.92% of the company’s stock.

Shares of NYSE FDX opened at $200.90 on Monday. The business has a fifty day simple moving average of $211.91 and a 200 day simple moving average of $231.04. The company has a current ratio of 1.39, a quick ratio of 1.35 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $52.07 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 0.81 and a beta of 1.32. FedEx has a one year low of $192.82 and a one year high of $319.90.

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.

Recommended Stories

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.