FedEx (NYSE:FDX) Issues Quarterly Earnings Results

FedEx (NYSE:FDXGet Rating) posted its quarterly earnings results 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 return on equity of 22.29% and a net margin of 4.09%. The business had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.78 billion. During the same quarter in the prior year, the firm earned $4.37 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year.

FedEx Price Performance

NYSE:FDX traded up $1.29 during trading hours on Thursday, hitting $154.54. 10,183,165 shares of the stock traded hands, compared to its average volume of 2,615,762. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81. FedEx has a 1 year low of $150.34 and a 1 year high of $266.79. 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. The stock has a 50 day moving average price of $217.35 and a 200 day moving average price of $216.76.

FedEx Announces Dividend

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 issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, September 1st. FedEx’s dividend payout ratio is currently 32.17%.

Insider Buying and Selling at FedEx

In other news, Director Amy B. Lane purchased 607 shares of the stock in a transaction on Thursday, June 30th. The shares were acquired at an average price of $228.12 per share, with a total value of $138,468.84. Following the completion of the acquisition, the director now directly owns 686 shares of the company’s stock, valued at $156,490.32. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other FedEx news, Director Amy B. Lane purchased 607 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were bought at an average price of $228.12 per share, with a total value of $138,468.84. Following the completion of the purchase, the director now directly owns 686 shares in the company, valued at $156,490.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vincenzo J. Vena purchased 900 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The shares were acquired at an average cost of $230.04 per share, for a total transaction of $207,036.00. Following the purchase, the director now owns 1,325 shares of the company’s stock, valued at $304,803. The disclosure for this purchase can be found here. Insiders have sold 48,810 shares of company stock valued at $11,199,898 over the last 90 days. 8.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FedEx

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in FedEx by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,284,390 shares of the shipping service provider’s stock valued at $297,196,000 after acquiring an additional 54,901 shares during the last quarter. Lazard Asset Management LLC increased its position in FedEx by 6.7% during the first quarter. Lazard Asset Management LLC now owns 1,275,892 shares of the shipping service provider’s stock valued at $295,227,000 after acquiring an additional 80,535 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of FedEx by 9.9% in the first quarter. Ensign Peak Advisors Inc now owns 552,321 shares of the shipping service provider’s stock worth $127,803,000 after purchasing an additional 49,974 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of FedEx by 1.7% in the first quarter. Prudential Financial Inc. now owns 551,801 shares of the shipping service provider’s stock worth $127,681,000 after purchasing an additional 9,415 shares during the last quarter. Finally, Eaton Vance Management grew its holdings in shares of FedEx by 24.4% in the first quarter. Eaton Vance Management now owns 518,464 shares of the shipping service provider’s stock worth $119,968,000 after purchasing an additional 101,748 shares during the last quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Cowen decreased their price target on FedEx from $310.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, September 16th. Evercore ISI decreased their price target on FedEx from $318.00 to $243.00 and set an “outperform” rating for the company in a research note on Friday, September 16th. Bank Of America (Bofa) cut FedEx from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $275.00 to $186.00 in a research note on Friday, September 16th. Deutsche Bank Aktiengesellschaft set a $320.00 price target on FedEx in a research note on Monday. Finally, Stephens boosted their price target on FedEx from $285.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, June 24th. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $238.30.

FedEx Company Profile

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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.

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Earnings History for FedEx (NYSE:FDX)

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