FedEx Co. (NYSE:FDX) Expected to Announce Quarterly Sales of $17.57 Billion

Wall Street brokerages expect FedEx Co. (NYSE:FDX) to post sales of $17.57 billion for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for FedEx’s earnings. The lowest sales estimate is $16.22 billion and the highest is $18.13 billion. FedEx posted sales of $17.82 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 1.4%. The firm is expected to issue its next earnings results after the market closes on Tuesday, December 17th.

According to Zacks, analysts expect that FedEx will report full year sales of $69.72 billion for the current financial year, with estimates ranging from $66.06 billion to $71.00 billion. For the next year, analysts expect that the business will report sales of $72.39 billion, with estimates ranging from $68.02 billion to $74.33 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow FedEx.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). FedEx had a net margin of 0.65% and a return on equity of 21.15%. The business had revenue of $17.05 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period in the prior year, the company earned $3.46 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis.

FDX has been the topic of a number of research analyst reports. Raymond James dropped their price target on FedEx from $190.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. DZ Bank reaffirmed a “sell” rating on shares of FedEx in a research report on Wednesday, September 18th. Standpoint Research upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating and set a $161.00 target price on the stock. in a research report on Thursday, August 29th. Finally, Cowen cut their price target on shares of FedEx from $206.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the stock. FedEx has a consensus rating of “Hold” and an average price target of $170.40.

In related news, Director R Brad Martin purchased 1,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $145.00 per share, with a total value of $145,000.00. Following the transaction, the director now owns 49,046 shares of the company’s stock, valued at $7,111,670. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Edwardson acquired 5,000 shares of FedEx stock in a transaction on Thursday, October 31st. The shares were bought at an average price of $151.75 per share, with a total value of $758,750.00. Following the purchase, the director now directly owns 62,966 shares in the company, valued at approximately $9,555,090.50. The disclosure for this purchase can be found here. Insiders own 8.44% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. CX Institutional purchased a new stake in FedEx in the 3rd quarter worth approximately $29,000. Accurate Investment Solutions Inc. grew its stake in shares of FedEx by 125.0% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 225 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of FedEx during the 3rd quarter valued at approximately $33,000. First PREMIER Bank purchased a new position in shares of FedEx during the 3rd quarter valued at approximately $36,000. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of FedEx during the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.64% of the company’s stock.

NYSE FDX traded up $3.31 during trading on Thursday, hitting $156.61. The company’s stock had a trading volume of 2,378,219 shares, compared to its average volume of 1,846,143. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.31 and a quick ratio of 1.25. The company has a market cap of $40.16 billion, a PE ratio of 10.09, a P/E/G ratio of 1.06 and a beta of 1.71. The business’s 50 day simple moving average is $157.29 and its 200-day simple moving average is $158.81. FedEx has a fifty-two week low of $137.78 and a fifty-two week high of $217.45.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 9th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, December 6th. FedEx’s payout ratio is 16.75%.

About FedEx

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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