FedEx Corp. (NYSE:FDX) – Stock analysts at Oppenheimer Holdings issued their Q2 2017 earnings estimates for FedEx Corp. in a note issued to investors on Wednesday. Oppenheimer Holdings analyst S. Schneeberger expects that the brokerage will post earnings of $2.92 per share for the quarter. Oppenheimer Holdings has a “Outperform” rating and a $184.00 price objective on the stock. Oppenheimer Holdings also issued estimates for FedEx Corp.’s Q3 2017 earnings at $2.69 EPS, Q4 2017 earnings at $3.60 EPS, FY2017 earnings at $12.10 EPS and FY2018 earnings at $13.60 EPS.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.09. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The firm earned $14.70 billion during the quarter. During the same quarter last year, the business earned $2.42 EPS. FedEx Corp.’s revenue for the quarter was up 19.5% compared to the same quarter last year.
Other analysts have also recently issued research reports about the company. Cowen and Company reaffirmed a “buy” rating and issued a $180.00 target price on shares of FedEx Corp. in a research report on Saturday, June 18th. Robert W. Baird reissued an “outperform” rating and set a $185.00 price objective on shares of FedEx Corp. in a research report on Friday. Vetr raised FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 price objective for the company in a research report on Tuesday, August 2nd. Zacks Investment Research raised FedEx Corp. from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Stifel Nicolaus lifted their price objective on FedEx Corp. from $179.00 to $186.00 and gave the company a “buy” rating in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $176.41.
Shares of FedEx Corp. (NYSE:FDX) opened at 174.39 on Friday. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $175.38. The firm has a market cap of $46.91 billion, a price-to-earnings ratio of 26.08 and a beta of 1.35. The firm’s 50-day moving average price is $165.36 and its 200-day moving average price is $161.49.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be paid a $0.40 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. FedEx Corp.’s dividend payout ratio is currently 23.99%.
In other news, EVP Alan B. Graf, Jr. sold 7,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $159.43, for a total value of $1,179,782.00. Following the sale, the executive vice president now directly owns 150,665 shares in the company, valued at approximately $24,020,520.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John A. Edwardson sold 2,882 shares of the company’s 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 completion of the sale, the director now owns 29,090 shares in the company, valued at $4,730,906.70. The disclosure for this sale can be found here. 8.67% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in FDX. Wellington Management Group LLP raised its stake in FedEx Corp. by 50.9% in the first quarter. Wellington Management Group LLP now owns 8,540,880 shares of the shipping service provider’s stock valued at $1,389,772,000 after buying an additional 2,881,893 shares in the last quarter. Primecap Management Co. CA raised its stake in FedEx Corp. by 9.3% in the first quarter. Primecap Management Co. CA now owns 16,116,764 shares of the shipping service provider’s stock valued at $2,622,520,000 after buying an additional 1,371,175 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in FedEx Corp. during the second quarter valued at $102,955,000. Bank of Montreal Can bought a new stake in FedEx Corp. during the second quarter valued at $98,813,000. Finally, Southpoint Capital Advisors LP bought a new stake in FedEx Corp. during the first quarter valued at $90,607,000. Institutional investors own 73.78% of the company’s stock.
About FedEx Corp.
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.
Receive News & Ratings for FedEx Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corp. and related companies with MarketBeat.com's FREE daily email newsletter.