FedEx Co. (NYSE:FDX) Expected to Post Quarterly Sales of $17.42 Billion

Wall Street analysts expect FedEx Co. (NYSE:FDX) to announce $17.42 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for FedEx’s earnings, with estimates ranging from $16.91 billion to $17.81 billion. FedEx posted sales of $17.05 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.2%. The firm is expected to issue its next quarterly earnings results on Monday, September 16th.

According to Zacks, analysts expect that FedEx will report full year sales of $72.01 billion for the current financial year, with estimates ranging from $71.00 billion to $73.57 billion. For the next financial year, analysts expect that the business will post sales of $75.35 billion, with estimates ranging from $74.36 billion to $76.97 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow FedEx.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.93 by $0.08. FedEx had a return on equity of 21.10% and a net margin of 0.77%. The firm had revenue of $17.81 billion for the quarter, compared to analysts’ expectations of $17.85 billion. During the same period in the previous year, the firm earned $5.91 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year.

FDX has been the topic of several research analyst reports. Cowen reissued an “outperform” rating and set a $237.00 target price (down from $242.00) on shares of FedEx in a research note on Thursday, March 14th. Raymond James reduced their target price on FedEx from $235.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Barclays reduced their target price on FedEx from $235.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 20th. Finally, KeyCorp reduced their target price on FedEx from $240.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 20th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $192.35.

In related news, CEO Frederick W. Smith sold 155,650 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $189.83, for a total value of $29,547,039.50. Following the sale, the chief executive officer now directly owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of FDX. Amundi Pioneer Asset Management Inc. boosted its holdings in FedEx by 30.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,009,956 shares of the shipping service provider’s stock worth $183,215,000 after acquiring an additional 237,339 shares in the last quarter. FMR LLC boosted its holdings in FedEx by 16.4% in the first quarter. FMR LLC now owns 1,993,135 shares of the shipping service provider’s stock worth $361,574,000 after acquiring an additional 281,483 shares in the last quarter. Horizon Investments LLC bought a new stake in FedEx in the first quarter worth $210,000. First Dallas Securities Inc. boosted its holdings in FedEx by 7.4% in the first quarter. First Dallas Securities Inc. now owns 6,133 shares of the shipping service provider’s stock worth $1,113,000 after acquiring an additional 425 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in FedEx by 63.5% in the first quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock worth $280,985,000 after acquiring an additional 601,465 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors.

FDX opened at $163.31 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.46 and a debt-to-equity ratio of 0.87. FedEx has a 52-week low of $150.68 and a 52-week high of $259.25. The stock has a market capitalization of $42.48 billion, a PE ratio of 10.52, a PEG ratio of 0.76 and a beta of 1.69. The company’s 50 day simple moving average is $164.06.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Monday, June 24th will be paid a $0.65 dividend. The ex-dividend date is Friday, June 21st. This represents a $2.60 annualized dividend and a yield of 1.59%. FedEx’s payout ratio is 16.75%.

FedEx Company Profile

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.

See Also: Why is a lock-up period needed for an IPO?

Get a free copy of the Zacks research report on FedEx (FDX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.