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FedEx Co. (NYSE:FDX) Expected to Post Earnings of $3.52 Per Share

Last updated on Friday, September 25, 2020 | 2020 MarketBeat

Brokerages predict that FedEx Co. (NYSE:FDX) will announce $3.52 earnings per share for the current quarter, according to Zacks. Seven analysts have issued estimates for FedEx's earnings, with estimates ranging from $2.05 to $4.34. FedEx reported earnings of $2.51 per share during the same quarter last year, which would indicate a positive year over year growth rate of 40.2%. The company is expected to issue its next earnings results on Tuesday, December 15th.

According to Zacks, analysts expect that FedEx will report full year earnings of $14.52 per share for the current fiscal year, with EPS estimates ranging from $9.65 to $17.61. For the next year, analysts expect that the firm will post earnings of $15.89 per share, with EPS estimates ranging from $12.00 to $18.00. Zacks' EPS calculations are an average based on a survey of analysts that cover FedEx.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 15th. The shipping service provider reported $4.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $2.69 by $2.18. FedEx had a return on equity of 13.49% and a net margin of 1.86%. The firm had revenue of $19.32 billion for the quarter, compared to the consensus estimate of $17.56 billion. During the same quarter in the previous year, the company earned $3.05 EPS. The business's revenue for the quarter was up 13.3% compared to the same quarter last year.

Several equities analysts have weighed in on the stock. Cowen lifted their price objective on shares of FedEx from $167.00 to $264.00 and gave the stock an "outperform" rating in a research report on Friday, September 11th. Morgan Stanley upped their price target on FedEx from $110.00 to $250.00 and gave the company an "equal weight" rating in a research report on Monday, September 14th. Loop Capital raised their price objective on FedEx from $248.00 to $372.00 and gave the stock a "buy" rating in a research report on Wednesday, September 16th. Zacks Investment Research upped their target price on FedEx to $276.50 in a report on Monday. Finally, Credit Suisse Group restated a "buy" rating and set a $322.00 price target on shares of FedEx in a report on Wednesday, September 16th. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of "Buy" and an average target price of $268.48.

FDX stock opened at $244.22 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.58 and a quick ratio of 1.53. The firm has a market capitalization of $64.13 billion, a P/E ratio of 49.94, a P/E/G ratio of 1.87 and a beta of 1.48. FedEx has a 52-week low of $88.69 and a 52-week high of $256.18. The company's 50 day simple moving average is $217.90 and its 200-day simple moving average is $153.55.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, September 3rd. FedEx's dividend payout ratio is 27.37%.

In related news, Director Shirley A. Jackson sold 5,325 shares of the business's stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $245.95, for a total value of $1,309,683.75. Following the sale, the director now owns 14,134 shares of the company's stock, valued at approximately $3,476,257.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John L. Merino sold 24,981 shares of the company's stock in a transaction on Friday, September 18th. The shares were sold at an average price of $246.16, for a total value of $6,149,322.96. The disclosure for this sale can be found here. Insiders have sold a total of 79,486 shares of company stock valued at $15,850,747 over the last ninety days. 8.49% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of FDX. Tower Research Capital LLC TRC bought a new stake in shares of FedEx in the 1st quarter worth about $49,000. Legacy Advisors LLC bought a new position in FedEx during the 2nd quarter valued at about $221,000. Tudor Investment Corp Et Al acquired a new position in FedEx in the first quarter valued at about $619,000. Courier Capital LLC grew its stake in FedEx by 5.6% during the second quarter. Courier Capital LLC now owns 3,746 shares of the shipping service provider's stock worth $582,000 after buying an additional 200 shares during the last quarter. Finally, AE Wealth Management LLC increased its holdings in shares of FedEx by 19.7% during the second quarter. AE Wealth Management LLC now owns 28,764 shares of the shipping service provider's stock worth $4,033,000 after buying an additional 4,733 shares in the last quarter. 71.65% of the stock is owned by institutional investors.

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 and Estimates for FedEx (NYSE:FDX)

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