FedEx (NYSE:FDX) Issues FY 2023 Earnings Guidance

FedEx (NYSE:FDXGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $22.50-$24.50 for the period, compared to the consensus estimate of $22.41. The company issued revenue guidance of -.

A number of equities analysts have commented on the stock. KeyCorp reduced their price objective on shares of FedEx from $325.00 to $300.00 and set an overweight rating for the company in a research report on Monday, March 14th. Deutsche Bank Aktiengesellschaft dropped 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. Credit Suisse Group set a $294.00 target price on FedEx in a report on Friday, March 18th. Citigroup dropped 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. Finally, Barclays set a $320.00 target price on FedEx in a report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $298.30.

Shares of NYSE:FDX traded down $0.89 during midday trading on Thursday, hitting $228.13. 4,241,363 shares of the stock were exchanged, compared to its average volume of 2,537,653. The business’s 50-day moving average price is $211.98 and its 200 day moving average price is $227.23. FedEx has a 12 month low of $192.82 and a 12 month high of $304.59. The stock has a market capitalization of $59.13 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 0.85 and a beta of 1.31. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.35 and a current ratio of 1.39.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Monday, June 27th will be issued a $1.15 dividend. The ex-dividend date is Friday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $0.75. This represents a $4.60 annualized dividend and a yield of 2.02%. FedEx’s dividend payout ratio is presently 15.75%.

In related news, Director Paul S. Walsh sold 3,720 shares of the company’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 value of $767,882.40. Following the sale, the director now directly owns 14,000 shares in the company, valued at $2,889,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.16% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Orion Portfolio Solutions LLC raised its position in shares of FedEx by 5.8% during the first quarter. Orion Portfolio Solutions LLC now owns 2,046 shares of the shipping service provider’s stock worth $473,000 after purchasing an additional 113 shares during the period. Gamco Investors INC. ET AL raised its position in shares of FedEx by 29.5% during the first quarter. Gamco Investors INC. ET AL now owns 1,643 shares of the shipping service provider’s stock worth $380,000 after purchasing an additional 374 shares during the period. Wealthfront Advisers LLC raised its position in shares of FedEx by 0.5% during the first quarter. Wealthfront Advisers LLC now owns 12,682 shares of the shipping service provider’s stock worth $2,934,000 after purchasing an additional 67 shares during the period. Weiss Multi Strategy Advisers LLC raised its position in shares of FedEx by 214.6% during the first quarter. Weiss Multi Strategy Advisers LLC now owns 151,997 shares of the shipping service provider’s stock worth $35,171,000 after purchasing an additional 103,684 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. acquired a new position in shares of FedEx during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 79.92% of the company’s stock.

FedEx Company Profile (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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