FedEx (NYSE:FDX) Releases Quarterly Earnings Results, Beats Expectations By $993.09 EPS

FedEx (NYSE:FDX) announced its earnings results on Tuesday. The shipping service provider reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.91 by $993.09, Zacks reports. FedEx had a net margin of 4.88% and a return on equity of 16.76%.

FedEx Stock Performance

NYSE FDX traded down $9.40 during trading on Tuesday, reaching $319.38. The company’s stock had a trading volume of 1,949,521 shares, compared to its average volume of 2,255,896. The business’s fifty day moving average price is $367.67 and its 200-day moving average price is $345.54. FedEx has a twelve month low of $172.88 and a twelve month high of $345.36. The firm has a market cap of $76.21 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.48 and a beta of 1.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is currently 30.87%.

Insider Activity

In related news, EVP Kawal Preet sold 4,900 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the sale, the executive vice president owned 10,953 shares of the company’s stock, valued at $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the transaction, the executive vice president owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This trade represents a 51.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 48,104 shares of company stock valued at $17,599,006. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On FedEx

Institutional investors have recently bought and sold shares of the stock. Arete Wealth Advisors LLC lifted its holdings in FedEx by 1.7% in the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 30 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in FedEx by 0.4% during the fourth quarter. Quadrant Capital Group LLC now owns 7,919 shares of the shipping service provider’s stock valued at $2,287,000 after purchasing an additional 35 shares during the last quarter. Berkshire Asset Management LLC PA boosted its holdings in FedEx by 2.2% during the fourth quarter. Berkshire Asset Management LLC PA now owns 1,741 shares of the shipping service provider’s stock worth $503,000 after buying an additional 37 shares in the last quarter. Stonebridge Capital Advisors LLC increased its holdings in shares of FedEx by 4.1% in the second quarter. Stonebridge Capital Advisors LLC now owns 1,163 shares of the shipping service provider’s stock valued at $264,000 after buying an additional 46 shares in the last quarter. Finally, Principal Securities Inc. lifted its position in shares of FedEx by 0.6% during the 4th quarter. Principal Securities Inc. now owns 8,191 shares of the shipping service provider’s stock valued at $2,366,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx is heading into earnings with analysts expecting solid profit and revenue growth, and some market watchers see the stock as a turnaround story with further upside potential. FedEx (FDX) Earnings Preview: First Report as Standalone Parcel Company
• Positive Sentiment: Investor interest remains high ahead of the report, with commentary suggesting FedEx could be in position for a fresh high if results and guidance impress. Here’s How Much FedEx Stock Is Expected to Move After Earnings
• Neutral Sentiment: FedEx is one of several major companies on the earnings calendar this week, so the stock may be trading on anticipation rather than company-specific news alone. Cerebras, FedEx, Carnival: Earnings to watch on Tuesday
• Negative Sentiment: Broader market weakness, especially the tech-led sell-off and softer futures, is creating a cautious tone that can spill over into FedEx shares. AI Selling Overseas Reaches Pre-Market Futures

Analyst Ratings Changes

FDX has been the topic of several recent research reports. Evercore decreased their price target on FedEx from $390.00 to $355.00 in a report on Thursday, June 18th. Rothschild & Co Redburn cut their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. BMO Capital Markets decreased their price objective on FedEx from $410.00 to $340.00 and set a “market perform” rating for the company in a research note on Monday, June 1st. Weiss Ratings lowered FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Finally, Wall Street Zen raised FedEx from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $358.14.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.