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Denmark says Nord Stream 1 natural gas pipeline has also stopped leaking
Denmark says Nord Stream 1 pipelines stop leaking
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Brazil holds historic election with Lula against Bolsonaro
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Sell every Stock except ONE (Ad)
Allies aim for risky Russian oil price cap as winter nears
Tesla sales bounce back in Q3 but fall short of estimates
S&P 500   3,585.62
DOW   28,725.51
QQQ   267.26
Why This Bear Market Is Not Even Close to Being Done…
Sell every Stock except ONE (Ad)
Denmark says Nord Stream 1 natural gas pipeline has also stopped leaking
Denmark says Nord Stream 1 pipelines stop leaking
Sell every Stock except ONE (Ad)
Brazil holds historic election with Lula against Bolsonaro
US shift away from coal hits tribal community in New Mexico
Sell every Stock except ONE (Ad)
Allies aim for risky Russian oil price cap as winter nears
Tesla sales bounce back in Q3 but fall short of estimates
S&P 500   3,585.62
DOW   28,725.51
QQQ   267.26
Why This Bear Market Is Not Even Close to Being Done…
Sell every Stock except ONE (Ad)
Denmark says Nord Stream 1 natural gas pipeline has also stopped leaking
Denmark says Nord Stream 1 pipelines stop leaking
Sell every Stock except ONE (Ad)
Brazil holds historic election with Lula against Bolsonaro
US shift away from coal hits tribal community in New Mexico
Sell every Stock except ONE (Ad)
Allies aim for risky Russian oil price cap as winter nears
Tesla sales bounce back in Q3 but fall short of estimates
S&P 500   3,585.62
DOW   28,725.51
QQQ   267.26
Why This Bear Market Is Not Even Close to Being Done…
Sell every Stock except ONE (Ad)
Denmark says Nord Stream 1 natural gas pipeline has also stopped leaking
Denmark says Nord Stream 1 pipelines stop leaking
Sell every Stock except ONE (Ad)
Brazil holds historic election with Lula against Bolsonaro
US shift away from coal hits tribal community in New Mexico
Sell every Stock except ONE (Ad)
Allies aim for risky Russian oil price cap as winter nears
Tesla sales bounce back in Q3 but fall short of estimates

FedEx (NYSE:FDX) Issues Quarterly Earnings Results

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

FedEx Price Performance

NYSE FDX traded up $1.29 during trading hours on Thursday, reaching $154.54. 10,183,165 shares of the stock traded hands, compared to its average volume of 2,615,762. The stock has a 50 day simple moving average of $217.35 and a two-hundred day simple moving average of $216.76. FedEx has a 1 year low of $150.34 and a 1 year high of $266.79. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.43 and a quick ratio of 1.38. The company has a market cap of $40.17 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 0.72 and a beta of 1.21.

FedEx Dividend Announcement

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

Insider Buying and Selling at FedEx


In other news, Director Vincenzo J. Vena purchased 900 shares of the stock in a transaction on Wednesday, July 6th. The shares were acquired 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 directly owns 1,325 shares of the company's stock, valued at approximately $304,803. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Robert B. Carter sold 12,310 shares of FedEx stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $230.61, for a total value of $2,838,809.10. Following the transaction, the executive vice president now owns 54,916 shares in the company, valued at $12,664,178.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Vincenzo J. Vena acquired 900 shares of the firm's stock in a transaction dated Wednesday, July 6th. The stock was bought at an average price of $230.04 per share, for a total transaction of $207,036.00. Following the acquisition, the director now owns 1,325 shares of the company's stock, valued at approximately $304,803. 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 90 days. Corporate insiders own 8.62% of the company's stock.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of equities analysts have issued reports on FDX shares. The Goldman Sachs Group lowered their target price on FedEx from $288.00 to $250.00 and set a "buy" rating for the company in a report on Friday, September 16th. Bank of America lowered FedEx from a "buy" rating to a "neutral" rating and cut their target price for the company from $275.00 to $186.00 in a research report on Friday, September 16th. UBS Group cut their target price on FedEx from $308.00 to $232.00 and set a "buy" rating on the stock in a research report on Friday, September 16th. Evercore ISI cut their target price on FedEx from $318.00 to $243.00 and set an "outperform" rating on the stock in a research report on Friday, September 16th. Finally, Credit Suisse Group cut their target price on FedEx from $314.00 to $246.00 and set an "outperform" rating on the stock in a research report on Friday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $238.30.

About FedEx

(Get Rating)

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.

Further Reading

Earnings History for FedEx (NYSE:FDX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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