FedEx (NYSE:FDX) Updates FY22 Earnings Guidance

FedEx (NYSE:FDX) issued an update on its FY22 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $19.75-21.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $21.13. FedEx also updated its FY 2022 guidance to $19.750-$21.000 EPS.

NYSE:FDX traded down $20.46 during midday trading on Wednesday, reaching $231.61. 296,778 shares of the stock traded hands, compared to its average volume of 2,291,626. FedEx has a 12-month low of $234.79 and a 12-month high of $319.90. The business has a 50-day moving average of $273.71 and a two-hundred day moving average of $285.32. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.46 and a current ratio of 1.51. The stock has a market capitalization of $61.65 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.01 and a beta of 1.22.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 21st. The shipping service provider reported $4.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.07 by ($0.70). The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $21.86 billion. FedEx had a return on equity of 22.55% and a net margin of 6.23%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.87 EPS. Research analysts anticipate that FedEx will post 21.27 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 3rd will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.30%. FedEx’s dividend payout ratio is currently 16.51%.

Several brokerages recently issued reports on FDX. Morgan Stanley reduced their target price on shares of FedEx from $270.00 to $250.00 and set an equal weight rating for the company in a report on Wednesday. Berenberg Bank reissued a buy rating and set a $350.00 target price on shares of FedEx in a report on Wednesday. Raymond James cut shares of FedEx from an outperform rating to a market perform rating in a report on Wednesday. KeyCorp reduced their target price on shares of FedEx from $350.00 to $325.00 and set an overweight rating for the company in a report on Wednesday. Finally, UBS Group set a $369.00 price target on shares of FedEx in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of $337.08.

In other news, Director Susan C. Schwab sold 4,720 shares of the business’s stock in a transaction that occurred on Tuesday, June 29th. The shares were sold at an average price of $297.30, for a total value of $1,403,256.00. Following the sale, the director now directly owns 10,312 shares of the company’s stock, valued at approximately $3,065,757.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert B. Carter sold 16,235 shares of the company’s stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $299.66, for a total transaction of $4,864,980.10. Following the sale, the executive vice president now directly owns 68,680 shares in the company, valued at $20,580,648.80. The disclosure for this sale can be found here. Insiders sold a total of 32,240 shares of company stock worth $9,608,596 over the last three months. Insiders own 8.16% of the company’s stock.

A hedge fund recently bought a new stake in FedEx stock. OLD Mission Capital LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 872 shares of the shipping service provider’s stock, valued at approximately $219,000. 72.64% of the stock is owned by hedge funds and other institutional investors.

About FedEx

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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