FedEx Corporation (NYSE:FDX) is scheduled to be issuing its quarterly earnings data on Tuesday, June 20th. Analysts expect the company to announce earnings of $3.88 per share for the quarter. FedEx Corporation has set its FY17 guidance at $11.85-12.35 EPS.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, March 21st. The shipping service provider reported $2.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.62 by $0.27. FedEx Corporation had a return on equity of 21.32% and a net margin of 3.31%. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $15 billion. During the same quarter last year, the company posted $2.51 EPS. FedEx Corporation’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, analysts expect FedEx Corporation to post $11.96 EPS for the current fiscal year and $13.55 EPS for the next fiscal year.
FedEx Corporation (NYSE:FDX) opened at 210.50 on Friday. The firm has a market cap of $56.28 billion, a P/E ratio of 29.93 and a beta of 1.28. FedEx Corporation has a one year low of $145.00 and a one year high of $211.88. The company has a 50-day moving average of $196.50 and a 200 day moving average of $192.76.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 22nd will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 20th. This represents a $2.00 dividend on an annualized basis and a yield of 0.95%. This is a boost from FedEx Corporation’s previous quarterly dividend of $0.40. FedEx Corporation’s payout ratio is currently 22.70%.
In other FedEx Corporation news, CEO Frederick W. Smith sold 135,000 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $189.02, for a total value of $25,517,700.00. Following the sale, the chief executive officer now owns 15,326,133 shares of the company’s stock, valued at $2,896,945,659.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael L. Ducker sold 12,899 shares of the company’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $193.88, for a total value of $2,500,858.12. Following the completion of the sale, the chief executive officer now directly owns 61,779 shares in the company, valued at approximately $11,977,712.52. The disclosure for this sale can be found here. Insiders sold 195,598 shares of company stock worth $37,347,615 in the last three months. 8.67% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of FDX. Thrivent Financial For Lutherans raised its stake in FedEx Corporation by 6.1% in the first quarter. Thrivent Financial For Lutherans now owns 9,211 shares of the shipping service provider’s stock valued at $1,797,000 after buying an additional 530 shares during the period. Apertura Capital LLC raised its stake in FedEx Corporation by 163.4% in the first quarter. Apertura Capital LLC now owns 147,500 shares of the shipping service provider’s stock valued at $28,785,000 after buying an additional 91,500 shares during the period. Loomis Sayles & Co. L P raised its stake in FedEx Corporation by 35.0% in the first quarter. Loomis Sayles & Co. L P now owns 66,354 shares of the shipping service provider’s stock valued at $12,949,000 after buying an additional 17,220 shares during the period. Global X Management Co. LLC raised its stake in FedEx Corporation by 17.8% in the first quarter. Global X Management Co. LLC now owns 4,285 shares of the shipping service provider’s stock valued at $836,000 after buying an additional 649 shares during the period. Finally, New England Private Wealth Advisors LLC purchased a new stake in FedEx Corporation during the first quarter valued at $217,000. 77.01% of the stock is currently owned by institutional investors.
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A number of equities research analysts have weighed in on FDX shares. Vetr upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $208.57 price objective for the company in a research note on Tuesday, February 21st. BMO Capital Markets upgraded FedEx Corporation from a “market perform” rating to an “outperform” rating and set a $220.00 price target for the company in a research note on Monday, March 6th. They noted that the move was a valuation call. Credit Suisse Group restated an “outperform” rating and set a $209.00 price target (up previously from $205.00) on shares of FedEx Corporation in a research note on Monday, March 6th. Zacks Investment Research upgraded FedEx Corporation from a “sell” rating to a “hold” rating in a research note on Friday, March 10th. Finally, Edward Jones upgraded FedEx Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, March 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $210.99.
About FedEx Corporation
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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