FedEx (NYSE:FDX) released its quarterly earnings data on Tuesday. The shipping service provider reported $4.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.05 by ($0.02), Bloomberg Earnings reports. The business had revenue of $17.82 billion for the quarter, compared to analysts’ expectations of $17.71 billion. FedEx had a net margin of 7.16% and a return on equity of 23.71%. During the same period last year, the company earned $3.18 earnings per share. FedEx updated its FY 2019 guidance to $15.50-16.60 EPS.
Shares of FDX traded down $17.01 during trading hours on Wednesday, hitting $168.00. The stock had a trading volume of 8,598,651 shares, compared to its average volume of 2,221,718. FedEx has a 12-month low of $181.28 and a 12-month high of $274.66. The firm has a market capitalization of $48.01 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.79.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 10th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, December 7th. FedEx’s dividend payout ratio (DPR) is currently 16.98%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Palo Capital Inc. acquired a new stake in FedEx in the 3rd quarter valued at $108,000. Virtus Alternative Investment Advisers Inc. acquired a new stake in shares of FedEx during the third quarter valued at about $110,000. Moneta Group Investment Advisors LLC grew its stake in shares of FedEx by 14,117.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock valued at $114,000 after acquiring an additional 63,386 shares in the last quarter. Fortis Advisors LLC grew its stake in shares of FedEx by 278.2% during the second quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock valued at $115,000 after acquiring an additional 370 shares in the last quarter. Finally, Lenox Wealth Advisors LLC acquired a new stake in shares of FedEx during the third quarter valued at about $120,000. 71.83% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the company. JPMorgan Chase & Co. reiterated a “buy” rating and set a $256.00 target price on shares of FedEx in a research report on Tuesday. Deutsche Bank lowered their price target on FedEx from $293.00 to $212.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup lowered their target price on FedEx from $275.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday. UBS Group restated a “neutral” rating and set a $205.00 target price (down from $256.00) on shares of FedEx in a research note on Wednesday. Finally, Bank of America reduced their price target on shares of FedEx from $220.00 to $193.00 and set a “neutral” rating on the stock in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $257.00.
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FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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