Fund Management

FedEx (FDX) to Release Quarterly Earnings on Tuesday

FedEx (NYSE:FDX) will be releasing earnings on Tuesday, December 20, Yahoo Finance reports.

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Dec 20, 2022 • 4 min read

FedEx (NYSE:FDX - Get Rating) is scheduled to issue its quarterly earnings data on Tuesday, December 20th.

FedEx (NYSE:FDX - Get Rating) last issued its quarterly earnings data on Thursday, September 22nd. The shipping service provider reported $3.44 earnings per share for the quarter, topping analysts' consensus estimates of $3.43 by $0.01. The firm had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.78 billion. FedEx had a return on equity of 20.95% and a net margin of 3.79%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $4.37 EPS. On average, analysts expect FedEx to post $14 EPS for the current fiscal year and $17 EPS for the next fiscal year.

FedEx Price Performance

Shares of FedEx stock opened at $171.72 on Monday. The company has a market cap of $44.68 billion, a PE ratio of 12.68, a P/E/G ratio of 1.01 and a beta of 1.33. The business has a 50 day moving average of $166.30 and a 200 day moving average of $195.62. FedEx has a 52 week low of $141.92 and a 52 week high of $266.79. The company has a quick ratio of 1.38, a current ratio of 1.42 and a debt-to-equity ratio of 0.79.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 12th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, December 9th. FedEx's dividend payout ratio (DPR) is presently 33.97%.

Insider Transactions at FedEx

In other news, Director R Brad Martin bought 1,500 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were bought at an average price of $143.41 per share, for a total transaction of $215,115.00. Following the purchase, the director now owns 750 shares in the company, valued at $107,557.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.62% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors boosted its position in shares of FedEx by 7.6% during the third quarter. Captrust Financial Advisors now owns 119,868 shares of the shipping service provider's stock worth $17,797,000 after acquiring an additional 8,452 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of FedEx by 5.2% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,567 shares of the shipping service provider's stock valued at $1,272,000 after purchasing an additional 421 shares during the last quarter. Kentucky Retirement Systems grew its position in shares of FedEx by 5.7% during the third quarter. Kentucky Retirement Systems now owns 18,713 shares of the shipping service provider's stock valued at $2,778,000 after purchasing an additional 1,016 shares in the last quarter. Baird Financial Group Inc. increased its holdings in shares of FedEx by 2.9% in the third quarter. Baird Financial Group Inc. now owns 95,239 shares of the shipping service provider's stock worth $14,140,000 after purchasing an additional 2,710 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in shares of FedEx by 108.7% in the third quarter. Kingsview Wealth Management LLC now owns 5,306 shares of the shipping service provider's stock worth $788,000 after buying an additional 2,764 shares in the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on FedEx from $192.00 to $184.00 in a research note on Thursday, December 8th. Evercore ISI dropped their target price on shares of FedEx from $243.00 to $225.00 and set an "outperform" rating on the stock in a research note on Friday, September 23rd. Jefferies Financial Group assumed coverage on shares of FedEx in a research report on Monday, October 24th. They set a "hold" rating and a $170.00 price target for the company. Berenberg Bank set a $190.00 price objective on FedEx in a research report on Monday, September 26th. Finally, BMO Capital Markets reduced their target price on FedEx from $215.00 to $190.00 and set a "market perform" rating for the company in a report on Friday, September 23rd. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $204.52.

About FedEx

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.