FedEx Corp. (FDX) Posts Earnings Results, Beats Expectations By $0.12 EPS
FedEx Corp. (NYSE:FDX) released its quarterly earnings results on Tuesday. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.12. FedEx Corp. had a return on equity of 20.62% and a net margin of 3.61%.
Shares of FedEx Corp. (NYSE:FDX) traded up 0.86% on Tuesday, reaching $162.65. 2,614,839 shares of the company traded hands. The firm has a market capitalization of $43.19 billion, a P/E ratio of 24.98 and a beta of 1.35. FedEx Corp. has a 1-year low of $119.71 and a 1-year high of $169.57. The stock has a 50-day moving average price of $164.13 and a 200 day moving average price of $160.96.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be given a $0.40 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.60 annualized dividend and a yield of 0.98%. FedEx Corp.’s dividend payout ratio (DPR) is presently 24.84%.
In other FedEx Corp. news, Director John A. Edwardson sold 2,882 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $162.63, for a total value of $468,699.66. Following the transaction, the director now directly owns 29,090 shares in the company, valued at $4,730,906.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $164.51, for a total transaction of $822,550.00. Following the completion of the transaction, the executive vice president now owns 53,399 shares in the company, valued at $8,784,669.49. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC acquired a new position in FedEx Corp. during the second quarter valued at $202,000. Landscape Capital Management L.L.C. acquired a new position in FedEx Corp. during the second quarter valued at $210,000. SOUTH STATE Corp increased its position in FedEx Corp. by 11.1% in the second quarter. SOUTH STATE Corp now owns 1,402 shares of the shipping service provider’s stock valued at $213,000 after buying an additional 140 shares during the last quarter. Nations Financial Group Inc. IA ADV acquired a new position in FedEx Corp. during the second quarter valued at $268,000. Finally, Laurel Wealth Advisors Inc. acquired a new position in FedEx Corp. during the second quarter valued at $307,000. Institutional investors and hedge funds own 73.82% of the company’s stock.
FDX has been the subject of a number of analyst reports. Citigroup Inc. reiterated a “buy” rating and set a $200.00 price target on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Stifel Nicolaus reissued a “buy” rating and set a $179.00 target price (up previously from $178.00) on shares of FedEx Corp. in a research report on Wednesday, June 22nd. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of FedEx Corp. in a research report on Monday, June 6th. Zacks Investment Research raised shares of FedEx Corp. from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Thursday, June 2nd. Finally, Cowen and Company reissued a “buy” rating and set a $180.00 target price on shares of FedEx Corp. in a research report on Saturday, June 18th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $174.70.
FedEx Corp. Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services under the FedEx brand. The Company offers its services through companies constituting four business segments: FedEx Express, FedEx Ground, FedEx Freight and FedEx Services. FedEx Express offers a range of domestic and international shipping services for delivery of packages and freight.
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