FedEx (NYSE:FDX) Issues Quarterly Earnings Results, Misses Expectations By $1.70 EPS

FedEx (NYSE:FDXGet Rating) posted its quarterly earnings data on Thursday. The shipping service provider reported $3.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.14 by ($1.70), Yahoo Finance reports. The business had revenue of $23.20 billion for the quarter, compared to the consensus estimate of $23.78 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. FedEx’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.37 EPS.

FedEx Trading Up 0.8 %

Shares of FDX stock opened at $154.54 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.38 and a current ratio of 1.43. The stock has a fifty day simple moving average of $216.15 and a two-hundred day simple moving average of $216.44. The firm has a market capitalization of $40.17 billion, a PE ratio of 10.81, a PEG ratio of 0.73 and a beta of 1.21. FedEx has a 52-week low of $150.34 and a 52-week high of $266.79.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Thursday, September 1st. FedEx’s dividend payout ratio (DPR) is 32.17%.

Wall Street Analyst Weigh In

FDX has been the topic of several research reports. Wells Fargo & Company decreased their price target on shares of FedEx from $269.00 to $199.00 and set an “overweight” rating on the stock in a research note on Friday, September 16th. Robert W. Baird cut their target price on shares of FedEx from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Friday, September 16th. Barclays dropped their price target on shares of FedEx from $320.00 to $240.00 and set an “overweight” rating for the company in a research report on Monday. Bank of America lowered shares of FedEx from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $275.00 to $186.00 in a report on Friday, September 16th. Finally, JPMorgan Chase & Co. cut FedEx from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $258.00 to $214.00 in a report on Friday, September 16th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $238.30.

Insider Activity

In other FedEx news, Director Vincenzo J. Vena bought 900 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The stock was purchased at an average price of $230.04 per share, for a total transaction of $207,036.00. Following the completion of the transaction, the director now owns 1,325 shares of the company’s stock, valued at approximately $304,803. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Vincenzo J. Vena purchased 900 shares of FedEx stock in a transaction on Wednesday, July 6th. The shares were bought at an average cost of $230.04 per share, for a total transaction of $207,036.00. Following the acquisition, the director now owns 1,325 shares in the company, valued at approximately $304,803. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy B. Lane acquired 607 shares of the company’s stock in a transaction on Thursday, June 30th. The shares were bought at an average cost of $228.12 per share, with a total value of $138,468.84. Following the acquisition, the director now directly owns 686 shares in the company, valued at $156,490.32. The disclosure for this purchase can be found here. Insiders have sold 48,810 shares of company stock worth $11,199,898 over the last ninety days. Corporate insiders own 8.62% of the company’s stock.

Institutional Investors Weigh In On FedEx

A number of hedge funds have recently bought and sold shares of FDX. Global Wealth Management Investment Advisory Inc. bought a new stake in shares of FedEx in the 1st quarter valued at approximately $35,000. Worth Asset Management LLC purchased a new position in FedEx during the first quarter worth $41,000. Loomis Sayles & Co. L P increased its position in FedEx by 553.3% during the first quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after acquiring an additional 332 shares during the last quarter. Covestor Ltd lifted its holdings in shares of FedEx by 77.7% in the 1st quarter. Covestor Ltd now owns 636 shares of the shipping service provider’s stock worth $147,000 after acquiring an additional 278 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in shares of FedEx by 96.5% in the 1st quarter. Zions Bancorporation N.A. now owns 853 shares of the shipping service provider’s stock worth $197,000 after acquiring an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.

About FedEx

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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Earnings History for FedEx (NYSE:FDX)

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