FedEx (FDX) Releases FY 2019 Earnings Guidance
FedEx (NYSE:FDX) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $15.10-15.90 for the period, compared to the Thomson Reuters consensus estimate of $15.97. FedEx also updated its FY19 guidance to $15.10-15.90 EPS.
Shares of FDX stock opened at $175.07 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.36 and a current ratio of 1.42. The firm has a market capitalization of $47.36 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 0.89 and a beta of 1.63. FedEx has a fifty-two week low of $150.94 and a fifty-two week high of $266.67.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.07). FedEx had a net margin of 5.25% and a return on equity of 22.85%. The firm had revenue of $17.01 billion during the quarter, compared to analysts’ expectations of $17.70 billion. During the same quarter in the previous year, the business posted $3.72 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts expect that FedEx will post 15.9 EPS for the current year.
FDX has been the topic of several analyst reports. JPMorgan Chase & Co. reiterated a buy rating and set a $256.00 price target on shares of FedEx in a report on Tuesday, December 18th. Berenberg Bank reiterated a buy rating and set a $245.00 price target on shares of FedEx in a report on Monday, January 7th. Robert W. Baird reduced their price target on FedEx from $225.00 to $200.00 and set an outperform rating on the stock in a report on Wednesday, December 19th. ValuEngine upgraded FedEx from a strong sell rating to a sell rating in a report on Wednesday, December 26th. Finally, UBS Group cut their price objective on FedEx from $234.00 to $200.00 and set an outperform rating for the company in a research report on Thursday, January 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $226.71.
In other FedEx news, VP John L. Merino sold 2,300 shares of FedEx stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $182.24, for a total value of $419,152.00. Following the completion of the transaction, the vice president now directly owns 30,185 shares of the company’s stock, valued at approximately $5,500,914.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David P. Steiner bought 7,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The stock was purchased at an average cost of $162.92 per share, with a total value of $1,140,440.00. Following the completion of the transaction, the director now owns 25,994 shares in the company, valued at $4,234,942.48. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.
FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
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