FedEx (FDX) Expected to Post Earnings of $5.52 Per Share

Wall Street brokerages expect that FedEx (NYSE:FDX) will announce earnings of $5.52 per share for the current quarter, according to Zacks. Nine analysts have issued estimates for FedEx’s earnings, with the highest EPS estimate coming in at $5.89 and the lowest estimate coming in at $4.51. FedEx reported earnings per share of $4.25 during the same quarter last year, which indicates a positive year-over-year growth rate of 29.9%. The company is scheduled to issue its next quarterly earnings report on Tuesday, June 19th.

According to Zacks, analysts expect that FedEx will report full-year earnings of $14.64 per share for the current fiscal year, with EPS estimates ranging from $12.95 to $15.30. For the next financial year, analysts expect that the business will report earnings of $16.96 per share, with EPS estimates ranging from $15.10 to $17.85. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for FedEx.

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FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.11 by $0.61. FedEx had a net margin of 6.99% and a return on equity of 21.65%. The business had revenue of $16.53 billion for the quarter, compared to analysts’ expectations of $16.17 billion. During the same period in the previous year, the company posted $2.35 EPS. FedEx’s revenue was up 10.2% on a year-over-year basis.

A number of brokerages recently issued reports on FDX. Credit Suisse Group decreased their price objective on shares of FedEx from $314.00 to $306.00 and set an “outperform” rating for the company in a report on Wednesday, March 21st. Oppenheimer reiterated a “buy” rating and issued a $265.00 price objective (up from $236.00) on shares of FedEx in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. BMO Capital Markets reiterated a “buy” rating and issued a $300.00 price objective on shares of FedEx in a report on Monday, January 8th. Finally, Bank of America reiterated a “buy” rating and issued a $315.00 price objective on shares of FedEx in a report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $281.51.

NYSE:FDX traded down $6.78 during trading hours on Friday, reaching $234.29. The company’s stock had a trading volume of 1,447,010 shares, compared to its average volume of 2,130,503. The stock has a market capitalization of $62,763.95, a PE ratio of 19.05, a P/E/G ratio of 1.21 and a beta of 1.38. FedEx has a one year low of $182.89 and a one year high of $274.66. The company has a current ratio of 1.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.85.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Monday, March 12th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Friday, March 9th. FedEx’s dividend payout ratio is currently 16.26%.

Several institutional investors and hedge funds have recently made changes to their positions in FDX. Jennison Associates LLC raised its position in shares of FedEx by 47.4% during the fourth quarter. Jennison Associates LLC now owns 3,687,689 shares of the shipping service provider’s stock valued at $920,226,000 after buying an additional 1,185,447 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of FedEx by 132.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,065,242 shares of the shipping service provider’s stock valued at $265,820,000 after buying an additional 607,585 shares during the last quarter. Fred Alger Management Inc. acquired a new position in shares of FedEx during the fourth quarter valued at about $124,920,000. Cornerstone Investment Partners LLC raised its position in shares of FedEx by 105.0% during the fourth quarter. Cornerstone Investment Partners LLC now owns 687,170 shares of the shipping service provider’s stock valued at $171,476,000 after buying an additional 351,909 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of FedEx by 138.0% during the fourth quarter. American Century Companies Inc. now owns 592,730 shares of the shipping service provider’s stock valued at $147,910,000 after buying an additional 343,735 shares during the last quarter. 74.68% of the stock is owned by institutional investors and hedge funds.

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About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.

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Earnings History and Estimates for FedEx (NYSE:FDX)

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