FedEx (NYSE:FDX) Announces Earnings Results

by · The Cerbat Gem

FedEx (NYSE:FDX – Get Free Report) posted its quarterly earnings results on Thursday. The shipping service provider reported $4.04 EPS for the quarter, topping the consensus estimate of $4.02 by $0.02, FiscalAI reports. FedEx had a net margin of 4.65% and a return on equity of 16.33%. The firm had revenue of $23.47 billion for the quarter, compared to the consensus estimate of $22.79 billion.

FedEx Stock Performance

Shares of FDX traded up $5.41 on Thursday, reaching $287.62. The company’s stock had a trading volume of 3,857,968 shares, compared to its average volume of 1,923,214. The stock’s 50 day simple moving average is $260.04 and its two-hundred day simple moving average is $240.42. The stock has a market capitalization of $67.87 billion, a P/E ratio of 16.79, a PEG ratio of 1.46 and a beta of 1.32. FedEx has a 12-month low of $194.29 and a 12-month high of $295.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.21.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be paid a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, December 15th. FedEx’s dividend payout ratio is 33.86%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. TD Cowen boosted their price target on shares of FedEx from $269.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Wolfe Research boosted their price objective on FedEx from $298.00 to $322.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. Citigroup raised their price target on shares of FedEx from $279.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Bank of America upped their price target on FedEx from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Finally, Jefferies Financial Group boosted their price objective on shares of FedEx from $280.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $285.67.

Read Our Latest Stock Analysis on FedEx

Institutional Investors Weigh In On FedEx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Captrust Financial Advisors boosted its stake in shares of FedEx by 7.0% in the third quarter. Captrust Financial Advisors now owns 121,588 shares of the shipping service provider’s stock worth $28,672,000 after acquiring an additional 7,908 shares during the period. Danske Bank A S purchased a new stake in FedEx in the 3rd quarter valued at about $31,018,000. Financial Engines Advisors L.L.C. grew its stake in FedEx by 34.7% in the third quarter. Financial Engines Advisors L.L.C. now owns 1,826 shares of the shipping service provider’s stock worth $431,000 after purchasing an additional 470 shares in the last quarter. Palisade Asset Management LLC increased its stake in shares of FedEx by 5.4% during the third quarter. Palisade Asset Management LLC now owns 10,473 shares of the shipping service provider’s stock valued at $2,470,000 after buying an additional 538 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of FedEx by 0.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 220,215 shares of the shipping service provider’s stock valued at $52,092,000 after purchasing an additional 613 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

(Get Free Report)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.

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