FedEx (NYSE:FDX) Releases Earnings Results, Misses Estimates By $1.70 EPS

FedEx (NYSE:FDXGet Rating) issued its quarterly earnings results on Thursday. The shipping service provider reported $3.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70), Yahoo Finance reports. The firm had revenue of $23.20 billion during the quarter, compared to analyst estimates of $23.78 billion. FedEx had a return on equity of 22.29% and a net margin of 4.09%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $4.37 EPS.

FedEx Stock Performance

Shares of FedEx stock traded up $1.29 during mid-day trading on Thursday, hitting $154.54. 10,183,165 shares of the stock were exchanged, compared to its average volume of 2,615,762. FedEx has a 12 month low of $150.34 and a 12 month high of $266.79. The company has a 50-day simple moving average of $217.35 and a 200 day simple moving average of $216.76. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.38 and a current ratio of 1.43. The company has a market capitalization of $40.17 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.72 and a beta of 1.21.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.60 annualized dividend and a dividend yield of 2.98%. FedEx’s dividend payout ratio is currently 32.17%.

Insiders Place Their Bets

In other FedEx news, EVP Jill Brannon sold 5,620 shares of FedEx stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $237.00, for a total transaction of $1,331,940.00. Following the transaction, the executive vice president now owns 8,113 shares of the company’s stock, valued at approximately $1,922,781. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Amy B. Lane purchased 607 shares of the stock in a transaction that occurred on Thursday, June 30th. The shares were bought at an average price of $228.12 per share, with a total value of $138,468.84. Following the acquisition, the director now owns 686 shares of the company’s stock, valued at approximately $156,490.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jill Brannon sold 5,620 shares of FedEx stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $237.00, for a total transaction of $1,331,940.00. Following the completion of the sale, the executive vice president now directly owns 8,113 shares in the company, valued at approximately $1,922,781. The disclosure for this sale can be found here. Insiders have sold a total of 48,810 shares of company stock valued at $11,199,898 in the last 90 days. 8.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FedEx

A number of hedge funds have recently modified their holdings of FDX. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of FedEx during the 1st quarter valued at $35,000. Worth Asset Management LLC purchased a new position in shares of FedEx during the 1st quarter valued at $41,000. Loomis Sayles & Co. L P grew its position in shares of FedEx by 553.3% during the 1st quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after purchasing an additional 332 shares in the last quarter. Covestor Ltd grew its position in shares of FedEx by 77.7% during the 1st quarter. Covestor Ltd now owns 636 shares of the shipping service provider’s stock valued at $147,000 after purchasing an additional 278 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its position in shares of FedEx by 96.5% during the 1st quarter. Zions Bancorporation N.A. now owns 853 shares of the shipping service provider’s stock valued at $197,000 after purchasing an additional 419 shares in the last quarter. Institutional investors own 71.62% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the subject of several research analyst reports. KeyCorp lifted their price objective on shares of FedEx from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Thursday, June 30th. Stifel Nicolaus lowered shares of FedEx from a “buy” rating to a “hold” rating and lowered their price objective for the company from $288.00 to $195.00 in a research note on Friday, September 16th. Berenberg Bank set a $200.00 price objective on shares of FedEx in a research note on Tuesday. Stephens lifted their price objective on shares of FedEx from $285.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, June 24th. Finally, Barclays lowered their price objective on shares of FedEx from $320.00 to $240.00 and set an “overweight” rating for the company in a research note on Monday. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $238.30.

About FedEx

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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Earnings History for FedEx (NYSE:FDX)

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