FedEx Co. (NYSE:FDX) Expected to Post Quarterly Sales of $22.53 Billion

Equities analysts expect FedEx Co. (NYSE:FDX) to announce $22.53 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for FedEx’s earnings. The lowest sales estimate is $22.18 billion and the highest is $23.30 billion. FedEx reported sales of $20.56 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 9.6%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Thursday, December 16th.

According to Zacks, 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 year, analysts forecast that the company will report sales of $94.25 billion, with estimates ranging from $90.82 billion to $95.94 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for FedEx.

FedEx (NYSE:FDX) last released its quarterly earnings results on Monday, September 20th. The shipping service provider reported $4.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.92 by ($0.55). FedEx had a return on equity of 20.93% and a net margin of 5.88%. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $21.86 billion. During the same period last year, the firm earned $4.87 EPS. The business’s quarterly revenue was up 13.9% on a year-over-year basis.

Several research analysts have weighed in on the stock. Stephens decreased their price objective on shares of FedEx from $360.00 to $330.00 and set an “overweight” rating for the company in a report on Wednesday, September 22nd. Wells Fargo & Company decreased their price objective on shares of FedEx from $351.00 to $314.00 and set an “overweight” rating for the company in a report on Wednesday, September 22nd. Morgan Stanley decreased their price objective on shares of FedEx from $270.00 to $250.00 and set an “equal weight” rating for the company in a report on Wednesday, September 22nd. Stifel Nicolaus decreased their price objective on shares of FedEx from $344.00 to $283.00 and set a “buy” rating for the company in a report on Thursday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of FedEx from $375.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, September 23rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $315.13.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. Heritage Wealth Management LLC raised its holdings in shares of FedEx by 125.0% during the second quarter. Heritage Wealth Management LLC now owns 108 shares of the shipping service provider’s stock valued at $32,000 after acquiring an additional 60 shares during the period. Destiny Wealth Partners LLC acquired a new stake in shares of FedEx during the third quarter valued at approximately $32,000. Trustcore Financial Services LLC grew its position in FedEx by 112.4% during the third quarter. Trustcore Financial Services LLC now owns 189 shares of the shipping service provider’s stock valued at $41,000 after purchasing an additional 100 shares in the last quarter. Monumental Financial Group Inc. purchased a new position in FedEx during the second quarter valued at approximately $45,000. Finally, Strategic Blueprint LLC purchased a new position in FedEx during the second quarter valued at approximately $50,000. Institutional investors and hedge funds own 72.61% of the company’s stock.

FDX stock traded down $2.86 during mid-day trading on Friday, hitting $243.57. 1,646,041 shares of the company were exchanged, compared to its average volume of 2,480,219. The company has a market capitalization of $64.70 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.04 and a beta of 1.29. The company has a current ratio of 1.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.85. FedEx has a twelve month low of $216.34 and a twelve month high of $319.90. The firm has a fifty day simple moving average of $236.21 and a 200 day simple moving average of $270.26.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 27th. Shareholders of record on Monday, December 13th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 10th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.23%. FedEx’s dividend payout ratio (DPR) is 15.94%.

FedEx Company Profile

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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