FedEx (NYSE:FDX) Issues FY 2024 Earnings Guidance

FedEx (NYSE:FDX) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 17.250-18.250 for the period, compared to the consensus EPS estimate of 17.400. The company issued revenue guidance of -. FedEx also updated its FY24 guidance to $17.25-18.25 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FDX. Stephens reduced their price target on shares of FedEx from $330.00 to $320.00 and set an overweight rating for the company in a research note on Wednesday, December 20th. Raymond James reduced their price target on shares of FedEx from $279.00 to $275.00 and set an outperform rating for the company in a research note on Wednesday, December 20th. Bank Of America (Bofa) upped their price target on shares of FedEx from $330.00 to $334.00 in a research note on Wednesday, December 20th. Barclays reduced their price target on shares of FedEx from $330.00 to $310.00 and set an overweight rating for the company in a research note on Wednesday, December 20th. Finally, Stifel Nicolaus cut their target price on shares of FedEx from $305.00 to $290.00 and set a buy rating for the company in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, FedEx has a consensus rating of Moderate Buy and an average price target of $289.00.

FedEx Stock Up 1.8 %

FedEx stock traded up $4.79 during trading hours on Thursday, hitting $264.78. The company had a trading volume of 4,814,442 shares, compared to its average volume of 2,029,550. The firm has a market capitalization of $66.17 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.22 and a beta of 1.20. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.34 and a quick ratio of 1.30. The firm’s fifty day moving average is $246.19 and its 200-day moving average is $251.46. FedEx has a fifty-two week low of $213.80 and a fifty-two week high of $285.53.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.26. The firm had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 4.87% and a return on equity of 16.47%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.41 EPS. On average, research analysts forecast that FedEx will post 17.52 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be paid a dividend of $1.26 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.90%. FedEx’s dividend payout ratio (DPR) is 29.86%.

Insider Transactions at FedEx

In other FedEx news, Director Amy B. Lane purchased 200 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were bought at an average price of $253.22 per share, for a total transaction of $50,644.00. Following the purchase, the director now directly owns 3,304 shares in the company, valued at approximately $836,638.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction that occurred on Thursday, December 28th. The shares were acquired at an average cost of $252.02 per share, for a total transaction of $252,020.00. Following the purchase, the executive vice president now owns 4,745 shares of the company’s stock, valued at approximately $1,195,834.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy B. Lane bought 200 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was purchased at an average price of $253.22 per share, for a total transaction of $50,644.00. Following the completion of the purchase, the director now directly owns 3,304 shares in the company, valued at approximately $836,638.88. The disclosure for this purchase can be found here. 8.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Global Wealth Management Investment Advisory Inc. acquired a new position in FedEx in the 1st quarter valued at $35,000. Resurgent Financial Advisors LLC acquired a new position in FedEx in the 4th quarter valued at $41,000. Worth Asset Management LLC acquired a new position in FedEx in the 1st quarter valued at $41,000. Coppell Advisory Solutions LLC acquired a new position in FedEx in the 2nd quarter valued at $45,000. Finally, Industrial Alliance Investment Management Inc. acquired a new position in FedEx in the 4th quarter valued at $52,000. 73.61% of the stock is currently owned by institutional investors and hedge funds.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.