FedEx (NYSE:FDX) Posts Earnings Results

FedEx (NYSE:FDX) announced its earnings results on Tuesday. The shipping service provider reported $5.88 earnings per share for the quarter, FiscalAI reports. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm had revenue of $22.19 billion during the quarter.

FedEx Stock Performance

NYSE:FDX opened at $315.27 on Wednesday. The firm’s fifty day simple moving average is $339.44 and its 200 day simple moving average is $349.91. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx has a twelve month low of $172.88 and a twelve month high of $345.36. The firm has a market capitalization of $75.23 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.58 and a beta of 1.29.

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by company insiders.

Institutional Trading of FedEx

Several large investors have recently bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in FedEx during the 1st quarter worth approximately $25,000. Bayban bought a new position in FedEx during the 1st quarter valued at $26,000. Cedar Mountain Advisors LLC grew its holdings in FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 41 shares in the last quarter. EFG International AG bought a new stake in shares of FedEx in the 4th quarter worth about $27,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of FedEx in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of analyst reports. Stifel Nicolaus decreased their target price on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Raymond James Financial decreased their price objective on FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, June 24th. Citigroup began coverage on FedEx in a research report on Wednesday, July 15th. They set an “outperform” rating on the stock. Stephens upgraded FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of FedEx in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.