FedEx (NYSE:FDX) Issues Q2 Earnings Guidance

FedEx (NYSE:FDXGet Rating) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.75 or greater for the period, compared to the consensus estimate of $2.80. The company issued revenue guidance of $23.5-24.0 billion, compared to the consensus revenue estimate of $23.78 billion. FedEx also updated its Q1 2023 guidance to $3.44-$3.44 EPS.

Analysts Set New Price Targets

FDX has been the topic of a number of analyst reports. Evercore ISI cut their price objective on shares of FedEx from $318.00 to $243.00 and set an outperform rating on the stock in a report on Friday, September 16th. Loop Capital downgraded shares of FedEx from a buy rating to a hold rating and cut their price objective for the stock from $339.00 to $202.00 in a report on Friday, September 16th. Stephens lifted their price objective on shares of FedEx from $285.00 to $295.00 and gave the stock an overweight rating in a report on Friday, June 24th. StockNews.com downgraded shares of FedEx from a buy rating to a hold rating in a report on Monday. Finally, Berenberg Bank set a $200.00 price target on shares of FedEx in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $238.30.

FedEx Stock Performance

Shares of NYSE FDX traded up $1.29 during trading on Thursday, hitting $154.54. The company had a trading volume of 10,183,165 shares, compared to its average volume of 2,615,762. The stock 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. FedEx has a 12 month low of $150.34 and a 12 month high of $266.79. The firm has a market capitalization of $40.17 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 0.72 and a beta of 1.21.

FedEx (NYSE:FDXGet Rating) last issued its earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 earnings per share for the quarter, missing the consensus estimate of $5.14 by ($1.70). The firm had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.78 billion. FedEx had a return on equity of 22.29% and a net margin of 4.09%. FedEx’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.37 earnings per share. As a group, analysts anticipate that FedEx will post 17.27 earnings per share for the current year.

FedEx Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Amy B. Lane purchased 607 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The stock was purchased at an average price of $228.12 per share, with a total value of $138,468.84. Following the completion of the acquisition, the director now owns 686 shares in the company, valued at $156,490.32. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Brie Carere sold 11,235 shares of FedEx stock in a transaction on Friday, August 12th. The stock was sold at an average price of $228.85, for a total value of $2,571,129.75. Following the completion of the transaction, the executive vice president now directly owns 16,366 shares in the company, valued at $3,745,359.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy B. Lane bought 607 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The stock was bought at an average price of $228.12 per share, with a total value of $138,468.84. Following the completion of the acquisition, the director now owns 686 shares of the company’s stock, valued at approximately $156,490.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 48,810 shares of company stock worth $11,199,898. 8.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Laraway Financial Advisors Inc lifted its holdings in shares of FedEx by 2.0% in the 1st quarter. Laraway Financial Advisors Inc now owns 2,490 shares of the shipping service provider’s stock valued at $575,000 after buying an additional 50 shares during the period. RB Capital Management LLC increased its position in FedEx by 3.3% during the first quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock worth $451,000 after buying an additional 63 shares in the last quarter. Kinneret Advisory LLC grew its position in shares of FedEx by 2.3% in the first quarter. Kinneret Advisory LLC now owns 2,821 shares of the shipping service provider’s stock valued at $655,000 after purchasing an additional 63 shares during the period. Wimmer Associates 1 LLC increased its stake in FedEx by 1.4% in the first quarter. Wimmer Associates 1 LLC now owns 4,711 shares of the shipping service provider’s stock valued at $1,090,000 after purchasing an additional 65 shares during the last quarter. Finally, Wealthfront Advisers LLC lifted its position in FedEx by 0.5% during the first quarter. Wealthfront Advisers LLC now owns 12,682 shares of the shipping service provider’s stock worth $2,934,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 71.62% of the company’s stock.

FedEx Company Profile

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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 and Estimates for FedEx (NYSE:FDX)

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