Equities research analysts forecast that FedEx Co. (NYSE:FDX) will post sales of $16.18 billion for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for FedEx’s earnings. The highest sales estimate is $16.43 billion and the lowest is $15.80 billion. FedEx reported sales of $15.00 billion in the same quarter last year, which indicates a positive year over year growth rate of 7.9%. The business is expected to report its next quarterly earnings report after the market closes on Tuesday, March 20th.
According to Zacks, analysts expect that FedEx will report full-year sales of $16.18 billion for the current financial year, with estimates ranging from $63.85 billion to $65.14 billion. For the next financial year, analysts anticipate that the business will post sales of $68.01 billion per share, with estimates ranging from $66.42 billion to $70.23 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for FedEx.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.29. The company had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. FedEx’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.80 earnings per share.
In other FedEx news, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total value of $11,894,336.95. Following the sale, the chief operating officer now owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Steiner sold 3,016 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $266.05, for a total transaction of $802,406.80. Following the completion of the sale, the director now directly owns 16,040 shares in the company, valued at approximately $4,267,442. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,541 shares of company stock worth $13,692,142. 8.45% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Cerebellum GP LLC purchased a new stake in shares of FedEx in the fourth quarter valued at about $125,000. Krilogy Financial LLC lifted its holdings in shares of FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after purchasing an additional 2 shares in the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of FedEx in the fourth quarter valued at about $144,000. Financial Engines Advisors L.L.C. purchased a new stake in shares of FedEx in the third quarter valued at about $132,000. Finally, We Are One Seven LLC purchased a new stake in shares of FedEx in the fourth quarter valued at about $148,000. 74.65% of the stock is currently owned by institutional investors.
FedEx (NYSE FDX) traded down $0.58 during midday trading on Wednesday, reaching $246.54. 1,277,097 shares of the company’s stock were exchanged, compared to its average volume of 1,890,000. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $66,050.00, a price-to-earnings ratio of 22.66, a PEG ratio of 1.44 and a beta of 1.32. FedEx has a one year low of $182.89 and a one year high of $274.66.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 12th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, March 9th. FedEx’s dividend payout ratio is currently 18.38%.
TRADEMARK VIOLATION WARNING: “FedEx Co. (FDX) Expected to Announce Quarterly Sales of $16.18 Billion” was reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another site, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this report can be viewed at https://sportsperspectives.com/2018/03/12/fedex-co-fdx-expected-to-announce-quarterly-sales-of-16-18-billion.html.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.