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

Analysts expect that FedEx Co. (NYSE:FDX) will post $22.53 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for FedEx’s earnings, with the highest sales estimate coming in at $23.30 billion and the lowest estimate coming in at $22.18 billion. FedEx reported sales of $20.56 billion during the same quarter last year, which would suggest a positive year over year growth rate of 9.6%. The business is scheduled to issue its next earnings results 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 year, with estimates ranging from $89.46 billion to $92.87 billion. For the next year, analysts anticipate that the business will report sales of $94.25 billion, with estimates ranging from $90.82 billion to $95.94 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for FedEx.

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

Several research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their target price on shares of FedEx from $344.00 to $283.00 and set a “buy” rating on the stock in a research report on Thursday, September 23rd. Bank of America dropped their target price on shares of FedEx from $290.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, October 4th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of FedEx from $375.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, September 23rd. They noted that the move was a valuation call. Wells Fargo & Company lowered their price objective on shares of FedEx from $351.00 to $314.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 22nd. Finally, Berenberg Bank set a $330.00 price objective on shares of FedEx in a research report on Wednesday, September 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Buy” and an average price target of $315.13.

Several hedge funds have recently made changes to their positions in the company. First Mercantile Trust Co. grew its holdings in shares of FedEx by 33.7% in the 3rd quarter. First Mercantile Trust Co. now owns 3,901 shares of the shipping service provider’s stock worth $855,000 after purchasing an additional 984 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of FedEx by 14.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 85,643 shares of the shipping service provider’s stock worth $18,781,000 after purchasing an additional 10,518 shares during the last quarter. Wealthsource Partners LLC bought a new stake in shares of FedEx in the 3rd quarter worth about $354,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of FedEx in the 3rd quarter worth about $1,402,000. Finally, Kentucky Retirement Systems grew its holdings in shares of FedEx by 0.6% in the 3rd quarter. Kentucky Retirement Systems now owns 14,306 shares of the shipping service provider’s stock worth $3,137,000 after purchasing an additional 91 shares during the last quarter. Institutional investors own 72.61% of the company’s stock.

Shares of FDX stock traded down $2.86 during midday trading on Friday, reaching $243.57. 1,646,041 shares of the company were exchanged, compared to its average volume of 2,480,219. FedEx has a 12 month low of $216.34 and a 12 month high of $319.90. The company has a market cap of $64.70 billion, a P/E ratio of 12.94, a PEG ratio of 1.04 and a beta of 1.29. The company’s 50 day moving average price is $236.21 and its two-hundred day moving average price is $270.26. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.47 and a current ratio of 1.51.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 27th. Stockholders of record on Monday, December 13th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, December 10th. FedEx’s dividend payout ratio 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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