Q2 2022 EPS Estimates for FedEx Co. (NYSE:FDX) Cut by Analyst

FedEx Co. (NYSE:FDX) – Stock analysts at Oppenheimer reduced their Q2 2022 earnings estimates for FedEx in a research note issued on Wednesday, September 22nd. Oppenheimer analyst S. Schneeberger now forecasts that the shipping service provider will earn $4.40 per share for the quarter, down from their previous estimate of $4.88. Oppenheimer also issued estimates for FedEx’s FY2022 earnings at $20.38 EPS.

FedEx (NYSE:FDX) last announced its earnings results on Monday, September 20th. The shipping service provider reported $4.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.92 by ($0.55). FedEx had a return on equity of 22.55% and a net margin of 6.23%. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same period in the previous year, the business posted $4.87 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis.

A number of other analysts also recently issued reports on the company. Credit Suisse Group set a $330.00 price objective on FedEx in a research note on Wednesday. BMO Capital Markets dropped their target price on FedEx from $315.00 to $300.00 and set a “market perform” rating for the company in a report on Wednesday. Barclays dropped their price objective on FedEx from $375.00 to $345.00 and set an “overweight” rating for the company in a report on Wednesday. They noted that the move was a valuation call. Raymond James lowered FedEx from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Stifel Nicolaus reduced their target price on FedEx from $344.00 to $283.00 and set a “buy” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $323.92.

Shares of FDX opened at $226.64 on Friday. The business’s 50 day moving average is $269.71 and its 200 day moving average is $284.55. The company has a market capitalization of $60.33 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.01 and a beta of 1.22. FedEx has a 12-month low of $226.60 and a 12-month high of $319.90. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.86.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 3rd will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, September 2nd. FedEx’s payout ratio is 16.51%.

In other FedEx news, CEO John Alan Smith sold 11,285 shares of the firm’s stock in a transaction on Tuesday, June 29th. The shares were sold at an average price of $296.00, for a total value of $3,340,360.00. Following the sale, the chief executive officer now directly owns 16,386 shares in the company, valued at approximately $4,850,256. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,235 shares of FedEx stock in a transaction dated Monday, July 12th. The shares were sold at an average price of $299.66, for a total transaction of $4,864,980.10. Following the sale, the executive vice president now owns 68,680 shares in the company, valued at $20,580,648.80. The disclosure for this sale can be found here. Insiders have sold 32,240 shares of company stock valued at $9,608,596 over the last 90 days. 8.16% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC boosted its holdings in shares of FedEx by 980.7% in the first quarter. Lazard Asset Management LLC now owns 1,270,674 shares of the shipping service provider’s stock valued at $360,921,000 after buying an additional 1,153,097 shares during the period. FMR LLC raised its position in shares of FedEx by 24.4% in the second quarter. FMR LLC now owns 4,561,732 shares of the shipping service provider’s stock valued at $1,360,901,000 after purchasing an additional 895,454 shares during the period. Amundi acquired a new position in shares of FedEx in the second quarter valued at about $161,210,000. Citigroup Inc. grew its stake in shares of FedEx by 10,682.3% in the first quarter. Citigroup Inc. now owns 394,404 shares of the shipping service provider’s stock valued at $112,026,000 after acquiring an additional 398,131 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of FedEx by 100.1% in the second quarter. Lord Abbett & CO. LLC now owns 766,348 shares of the shipping service provider’s stock valued at $228,625,000 after acquiring an additional 383,348 shares in the last quarter. Hedge funds and other institutional investors own 72.64% of the company’s stock.

FedEx Company Profile

FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.

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Earnings History and Estimates for FedEx (NYSE:FDX)

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