FedEx (NYSE:FDX) Posts Earnings Results, Beats Expectations By $0.74 EPS

FedEx (NYSE:FDX – Get Rating) issued its quarterly earnings results on Thursday. The shipping service provider reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.74, RTT News reports. The business had revenue of $22.17 billion during the quarter, compared to analyst estimates of $22.74 billion. FedEx had a net margin of 3.23% and a return on equity of 17.71%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.59 earnings per share. FedEx updated its FY23 guidance to $13.80-14.40 EPS and its FY 2023 guidance to $14.60-$15.20 EPS.

FedEx Price Performance

NYSE FDX opened at $220.31 on Friday. The stock’s 50-day moving average price is $201.14 and its two-hundred day moving average price is $181.41. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. The company has a market cap of $55.61 billion, a PE ratio of 19.03, a PEG ratio of 1.26 and a beta of 1.31. FedEx has a 1 year low of $141.92 and a 1 year high of $248.76.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, March 10th. FedEx’s payout ratio is 39.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FDX. UBS Group set a $260.00 price target on shares of FedEx in a research note on Friday. JPMorgan Chase & Co. boosted their target price on shares of FedEx from $199.00 to $233.00 in a research note on Friday. Stephens boosted their target price on shares of FedEx from $200.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday. BMO Capital Markets boosted their target price on shares of FedEx from $180.00 to $210.00 and gave the company a “market perform” rating in a research note on Monday, March 13th. Finally, Barclays boosted their target price on shares of FedEx from $240.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.75.

Insiders Place Their Bets

In related news, Director Amy B. Lane acquired 280 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were purchased at an average price of $175.83 per share, for a total transaction of $49,232.40. Following the acquisition, the director now owns 1,529 shares in the company, valued at $268,844.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.62% of the company’s stock.

Institutional Trading of FedEx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Chimera Capital Management LLC acquired a new stake in FedEx during the 4th quarter worth about $250,000. CIC Wealth LLC acquired a new position in shares of FedEx in the 4th quarter valued at about $248,000. Fort Sheridan Advisors LLC acquired a new position in shares of FedEx in the 4th quarter valued at about $232,000. Momentum Advisors LLC bought a new stake in shares of FedEx in the 4th quarter valued at approximately $216,000. Finally, Geller Advisors LLC bought a new stake in shares of FedEx in the 1st quarter valued at approximately $203,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

FedEx Company Profile

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.