Q2 2019 Earnings Forecast for FedEx Co. Issued By KeyCorp (FDX)
FedEx Co. (NYSE:FDX) – Research analysts at KeyCorp raised their Q2 2019 earnings per share estimates for FedEx in a note issued to investors on Monday, September 17th. KeyCorp analyst T. Fowler now expects that the shipping service provider will earn $4.13 per share for the quarter, up from their previous estimate of $4.00. KeyCorp also issued estimates for FedEx’s Q3 2019 earnings at $4.07 EPS, Q4 2019 earnings at $5.83 EPS and FY2019 earnings at $17.50 EPS.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Monday, September 17th. The shipping service provider reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.78 by ($0.32). FedEx had a net margin of 7.16% and a return on equity of 23.71%. The business had revenue of $17.05 billion for the quarter, compared to analysts’ expectations of $16.88 billion. During the same period in the prior year, the company posted $2.65 EPS. The firm’s revenue was up 11.5% on a year-over-year basis.
Shares of NYSE FDX opened at $246.81 on Thursday. FedEx has a 12-month low of $214.17 and a 12-month high of $274.66. The stock has a market cap of $63.66 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.09 and a beta of 1.45. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.32 and a quick ratio of 1.33.
Several institutional investors have recently bought and sold shares of FDX. Royal London Asset Management Ltd. purchased a new position in shares of FedEx during the 2nd quarter worth approximately $23,279,000. Horan Capital Advisors LLC. boosted its position in shares of FedEx by 3.4% during the 2nd quarter. Horan Capital Advisors LLC. now owns 11,603 shares of the shipping service provider’s stock worth $2,635,000 after purchasing an additional 385 shares during the period. Exane Asset Management purchased a new position in shares of FedEx during the 2nd quarter worth approximately $216,000. HRT Financial LLC purchased a new position in shares of FedEx during the 2nd quarter worth approximately $986,000. Finally, SRS Capital Advisors Inc. boosted its position in shares of FedEx by 28.0% during the 2nd quarter. SRS Capital Advisors Inc. now owns 2,672 shares of the shipping service provider’s stock worth $606,000 after purchasing an additional 584 shares during the period. 72.48% of the stock is owned by institutional investors and hedge funds.
In other news, Director John A. Edwardson sold 1,160 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the sale, the director now owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.45% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 10th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 7th. This represents a $2.60 annualized dividend and a dividend yield of 1.05%. FedEx’s dividend payout ratio (DPR) is 16.98%.
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.
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