Oppenheimer Analysts Increase Earnings Estimates for FedEx Co. (FDX)

FedEx Co. (NYSE:FDX) – Investment analysts at Oppenheimer boosted their Q3 2018 earnings per share estimates for FedEx in a research note issued on Wednesday. Oppenheimer analyst S. Schneeberger now anticipates that the shipping service provider will earn $2.79 per share for the quarter, up from their previous estimate of $2.73. Oppenheimer has a “Buy” rating and a $265.00 price target on the stock. Oppenheimer also issued estimates for FedEx’s FY2018 earnings at $13.00 EPS, FY2019 earnings at $15.50 EPS and FY2020 earnings at $18.00 EPS.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.29. The firm had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 EPS.

Other analysts also recently issued reports about the stock. Wells Fargo & Company increased their price objective on shares of FedEx from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Loop Capital reissued a “buy” rating and set a $260.00 price objective (up from $250.00) on shares of FedEx in a research report on Wednesday, September 20th. Stifel Nicolaus reissued a “hold” rating and set a $221.00 price objective (up from $216.00) on shares of FedEx in a research report on Wednesday, September 20th. Citigroup increased their price objective on shares of FedEx to $275.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Finally, Cowen reissued a “buy” rating and set a $240.00 price objective on shares of FedEx in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $251.59.

Shares of FedEx (FDX) traded down $0.15 during mid-day trading on Friday, reaching $250.02. 1,333,973 shares of the company traded hands, compared to its average volume of 2,012,883. FedEx has a one year low of $182.89 and a one year high of $255.11. The stock has a market cap of $67,017.94, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 1.52 and a beta of 1.36. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.89.

Large investors have recently modified their holdings of the company. FNY Managed Accounts LLC bought a new position in shares of FedEx in the 1st quarter worth approximately $100,000. Salem Investment Counselors Inc. lifted its stake in shares of FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares during the period. Krilogy Financial LLC lifted its stake in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares during the period. Alexandria Capital LLC lifted its stake in shares of FedEx by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after purchasing an additional 13 shares during the period. Finally, Financial Engines Advisors L.L.C. bought a new position in shares of FedEx in the 3rd quarter worth approximately $132,000. Hedge funds and other institutional investors own 75.60% of the company’s stock.

In other news, EVP Robert B. Carter sold 3,970 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $250.73, for a total transaction of $995,398.10. Following the sale, the executive vice president now owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Henry J. Maier sold 11,150 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the transaction, the insider now owns 36,747 shares in the company, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,064 shares of company stock worth $7,820,036. Insiders own 8.45% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s payout ratio is presently 18.43%.

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FedEx Company Profile

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.

Earnings History and Estimates for FedEx (NYSE:FDX)

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