Oppenheimer Holdings Weighs in on FedEx Corp.’s FY2019 Earnings (FDX)
FedEx Corp. (NYSE:FDX) – Research analysts at Oppenheimer Holdings issued their FY2019 EPS estimates for shares of FedEx Corp. in a report released on Wednesday. Oppenheimer Holdings analyst S. Schneeberger expects that the brokerage will post earnings per share of $15.35 for the year. Oppenheimer Holdings currently has a “Outperform” rating and a $184.00 price target on the stock. Oppenheimer Holdings also issued estimates for FedEx Corp.’s FY2020 earnings at $17.40 EPS.
Several other equities analysts have also recently weighed in on FDX. Cowen and Company reiterated a “buy” rating and set a $180.00 price objective on shares of FedEx Corp. in a report on Saturday, June 18th. Deutsche Bank AG lifted their price objective on FedEx Corp. from $190.00 to $198.00 and gave the company a “buy” rating in a report on Thursday, June 23rd. Zacks Investment Research upgraded FedEx Corp. from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a report on Thursday, June 2nd. Stifel Nicolaus lifted their price objective on FedEx Corp. from $179.00 to $186.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Vetr cut FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $177.10 price objective on the stock. in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $175.85.
FedEx Corp. (NYSE:FDX) traded down 0.12% during midday trading on Thursday, hitting $173.65. The stock had a trading volume of 2,672,989 shares. The firm has a market capitalization of $46.11 billion, a price-to-earnings ratio of 26.67 and a beta of 1.35. The firm has a 50-day moving average price of $164.57 and a 200-day moving average price of $161.19. FedEx Corp. has a 1-year low of $119.71 and a 1-year high of $175.38.
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FedEx Corp. (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.09. FedEx Corp. had a return on equity of 21.56% and a net margin of 3.49%. The company earned $14.70 billion during the quarter. During the same period in the prior year, the company posted $2.42 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, September 8th. FedEx Corp.’s payout ratio is presently 23.99%.
In related news, EVP Alan B. Graf, Jr. sold 7,400 shares of the business’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 transaction of $1,179,782.00. Following the transaction, the executive vice president now directly owns 150,665 shares of the company’s stock, valued at approximately $24,020,520.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $164.51, for a total value of $822,550.00. Following the transaction, the executive vice president now directly owns 53,399 shares in the company, valued at $8,784,669.49. The disclosure for this sale can be found here. Corporate insiders own 8.67% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Personal Financial Services raised its position in FedEx Corp. by 18.6% in the second quarter. First Personal Financial Services now owns 708 shares of the shipping service provider’s stock worth $107,000 after buying an additional 111 shares during the last quarter. Glassman Wealth Services raised its position in FedEx Corp. by 200.6% in the second quarter. Glassman Wealth Services now owns 974 shares of the shipping service provider’s stock worth $148,000 after buying an additional 650 shares during the last quarter. Invictus RG acquired a new position in FedEx Corp. during the first quarter worth $161,000. Beese Fulmer Investment Management Inc. raised its position in FedEx Corp. by 2.5% in the second quarter. Beese Fulmer Investment Management Inc. now owns 1,319 shares of the shipping service provider’s stock worth $200,000 after buying an additional 32 shares during the last quarter. Finally, HBK Sorce Advisory LLC acquired a new position in FedEx Corp. during the second quarter worth $202,000. 73.78% of the stock is currently owned by institutional investors and hedge funds.
FedEx Corp. Company Profile
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.
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