FedEx (NYSE:FDX) Issues Quarterly Earnings Results, Misses Expectations By $0.12 EPS

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FedEx (NYSE:FDX) issued its quarterly earnings data on Tuesday. The shipping service provider reported $3.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12), RTT News reports. The business had revenue of $17.05 billion for the quarter, compared to analyst estimates of $17.05 billion. FedEx had a return on equity of 20.92% and a net margin of 0.65%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.46 EPS. FedEx updated its FY 2020 guidance to $11.00-13.00 EPS and its FY20 guidance to $11.00-13.00 EPS.

NYSE:FDX opened at $152.45 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.39 and a current ratio of 1.45. The stock’s 50-day simple moving average is $160.65 and its 200 day simple moving average is $170.59. The company has a market cap of $45.20 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.93 and a beta of 1.69. FedEx has a 52-week low of $147.82 and a 52-week high of $250.95.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Friday, September 6th. FedEx’s dividend payout ratio is currently 16.75%.

In related news, EVP Robert B. Carter sold 23,100 shares of FedEx stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the sale, the executive vice president now owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul S. Walsh sold 4,440 shares of FedEx stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the sale, the director now directly owns 16,440 shares in the company, valued at approximately $2,661,307.20. The disclosure for this sale can be found here. 8.44% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its position in shares of FedEx by 22.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 107,419 shares of the shipping service provider’s stock valued at $17,637,000 after buying an additional 19,349 shares in the last quarter. InterOcean Capital LLC raised its position in shares of FedEx by 8.0% in the second quarter. InterOcean Capital LLC now owns 160,442 shares of the shipping service provider’s stock valued at $26,343,000 after buying an additional 11,932 shares in the last quarter. Heritage Investors Management Corp raised its position in shares of FedEx by 4.3% in the second quarter. Heritage Investors Management Corp now owns 76,800 shares of the shipping service provider’s stock valued at $12,610,000 after buying an additional 3,189 shares in the last quarter. First Dallas Securities Inc. raised its position in shares of FedEx by 7.4% in the first quarter. First Dallas Securities Inc. now owns 6,133 shares of the shipping service provider’s stock valued at $1,113,000 after buying an additional 425 shares in the last quarter. Finally, Baker Ellis Asset Management LLC raised its position in shares of FedEx by 4.2% in the second quarter. Baker Ellis Asset Management LLC now owns 4,950 shares of the shipping service provider’s stock valued at $813,000 after buying an additional 200 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently commented on FDX. Raymond James dropped their price objective on FedEx from $190.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday. Deutsche Bank raised FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday. Sanford C. Bernstein set a $205.00 price target on FedEx and gave the company a “buy” rating in a research note on Thursday, June 20th. Credit Suisse Group dropped their price target on FedEx from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Berenberg Bank set a $175.00 price target on FedEx and gave the company a “hold” rating in a research note on Friday, June 28th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $175.96.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Earnings History for FedEx (NYSE:FDX)

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