$24.28 Billion in Sales Expected for FedEx Co. (NYSE:FDX) This Quarter

Equities research analysts expect FedEx Co. (NYSE:FDXGet Rating) to announce sales of $24.28 billion for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for FedEx’s earnings, with estimates ranging from $23.33 billion to $25.73 billion. FedEx reported sales of $22.57 billion during the same quarter last year, which indicates a positive year over year growth rate of 7.6%. The firm is expected to report its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that FedEx will report full-year sales of $93.40 billion for the current financial year, with estimates ranging from $92.45 billion to $94.85 billion. For the next year, analysts expect that the business will post sales of $97.77 billion, with estimates ranging from $95.97 billion to $101.35 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow FedEx.

FedEx (NYSE:FDXGet Rating) last announced its quarterly earnings results on Thursday, March 17th. The shipping service provider reported $4.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.10). FedEx had a return on equity of 20.67% and a net margin of 5.60%. The business had revenue of $23.64 billion for the quarter, compared to analysts’ expectations of $23.33 billion. During the same period last year, the firm earned $3.47 earnings per share. The firm’s quarterly revenue was up 9.9% on a year-over-year basis.

Several analysts have recently weighed in on the company. Citigroup reduced their target price on FedEx from $300.00 to $270.00 and set a “buy” rating for the company in a report on Friday, March 18th. Berenberg Bank set a $330.00 target price on FedEx in a report on Friday. Credit Suisse Group set a $294.00 target price on FedEx in a report on Friday, March 18th. Deutsche Bank Aktiengesellschaft reduced their target price on FedEx from $310.00 to $298.00 and set a “buy” rating for the company in a report on Monday, March 21st. Finally, JPMorgan Chase & Co. dropped their price target on FedEx from $297.00 to $282.00 and set an “overweight” rating on the stock in a research report on Friday, March 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $299.55.

Shares of FedEx stock traded up $7.38 on Monday, hitting $219.67. The stock had a trading volume of 2,146,551 shares, compared to its average volume of 2,437,114. FedEx has a 52-week low of $192.82 and a 52-week high of $318.54. The company has a current ratio of 1.39, a quick ratio of 1.35 and a debt-to-equity ratio of 0.83. The stock has a market cap of $56.93 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 0.81 and a beta of 1.32. The company’s 50 day moving average price is $210.68 and its 200 day moving average price is $229.95.

In other FedEx news, Director Paul S. Walsh sold 3,720 shares of the business’s stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $206.42, for a total transaction of $767,882.40. Following the transaction, the director now owns 14,000 shares in the company, valued at approximately $2,889,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.16% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrant Private Wealth Management LLC grew its position in FedEx by 3.3% in the third quarter. Quadrant Private Wealth Management LLC now owns 1,236 shares of the shipping service provider’s stock worth $271,000 after buying an additional 40 shares during the last quarter. SOA Wealth Advisors LLC. grew its position in FedEx by 23.8% in the fourth quarter. SOA Wealth Advisors LLC. now owns 213 shares of the shipping service provider’s stock worth $55,000 after buying an additional 41 shares during the last quarter. Lincoln National Corp grew its position in FedEx by 0.5% in the fourth quarter. Lincoln National Corp now owns 7,870 shares of the shipping service provider’s stock worth $2,036,000 after buying an additional 42 shares during the last quarter. GYL Financial Synergies LLC grew its position in FedEx by 2.5% in the fourth quarter. GYL Financial Synergies LLC now owns 1,746 shares of the shipping service provider’s stock worth $452,000 after buying an additional 42 shares during the last quarter. Finally, GFG Capital LLC grew its position in FedEx by 3.8% in the fourth quarter. GFG Capital LLC now owns 1,214 shares of the shipping service provider’s stock worth $314,000 after buying an additional 44 shares during the last quarter. Institutional investors and hedge funds own 79.92% of the company’s stock.

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 e-commerce technology and e-commerce transportation solutions.

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Earnings History and Estimates for FedEx (NYSE:FDX)

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