FedEx (NYSE:FDX) Issues FY 2023 Earnings Guidance

FedEx (NYSE:FDX) updated its FY 2023 earnings guidance. The company provided EPS guidance of $13.00-$14.00 for the period, compared to the consensus estimate of $14.08.

FedEx (NYSE:FDX) Issues FY 2023 Earnings Guidance

FedEx (NYSE FDX – Get Rating) updated its FY 2023 earnings guidelines on Tuesday. The guidance for EPS was $13.00 to $14.00, compared with the consensus estimate of $14.08. Revenue guidance was issued by the company at -.

Analysts set new price targets

Several analysts have contributed to the discussion on FDX shares. StockNews.com reported on FedEx shares in a research report published on Wednesday, October 12. They gave the stock a Hold rating. In a research note, UBS Group placed a $215.00 target stock price for FedEx shares in a Wednesday, October 5th. Deutsche Bank Aktiengesellschaft raised their target price for FedEx shares from $190.00 up to $217.00 in a Monday research note. Bank of America lowered their target price for FedEx shares from $186.00 - $178.00, and gave the company a neutral rating in a research note dated Friday, September 23rd. In a research note dated Tuesday, December 13, 2013, The Goldman Sachs Group also set a target price of $215.00 for FedEx shares in a research note. The stock has been rated by twelve research analysts with a Hold rating, and eleven with a Buy rating. MarketBeat data shows that the stock currently has a Hold rating and a consensus price target at $203.60.

FedEx Stock down 2.6 %

FDX stock fell $4.43 on Tuesday during midday trading, reaching $164.35 The company's average volume was 2,794,998. 4,836,009 shares were traded. The stock's simple 50-day moving average of $166.61 is $195.25, and its simple 200-day moving average of $195.25 is $195.25. FedEx's 1-year low was $141.92 while its 1-year high was $266.79.

FedEx (NYSE FDX – Get Rating) announced its last earnings results on Thursday September 22nd. The shipping company reported earnings per share (EPS), of $3.44, surpassing analysts' estimates of $3.43 by $0.01. FedEx posted a net margin (3.79%) and a return of equity (20.95%). For the quarter, FedEx's revenue was $23.20 billion. Analyst estimates were $23.78 billion. The firm earned $4.37 per share during the same period last fiscal year. The quarter's revenue was 5.4% higher than the previous quarter. FedEx is expected to post an average of 14.26 earnings per share in the current year, according to equities analysts.

FedEx Announces Dividend

A quarterly dividend was also announced by the firm recently. It will be paid Tuesday, January 3. A $1.15 dividend will be paid to shareholders who were in effect on Monday, 12/12. This is a 4.60 annualized dividend and yields 2.80%. This dividend's ex-dividend day is Friday, December 9. FedEx's current dividend payout ratio (DPR), is 33.97%.

FedEx Insider Transactions

R Brad Martin, the Director of the company, purchased 1,500 shares in a transaction that took place Monday, September 26th. The stock was purchased at an average price $143.41 per share and a total of $215,115.00. The director now owns approximately $107,557.50 worth of stock. The transaction was made public in a legal filing filed with the SEC. You can find it at this link. Corporate insiders control 8.62%.

Institutional Outflows and Inflows

Recent institutional investors have increased or decreased their stakes in the company. Laraway Financial Advisors Inc increased its FedEx holdings by 2.0% during the first quarter. After buying 50 additional shares, Laraway Financial Advisors Inc now has 2,490 shares in the stock of the shipping company valued at $575,000. RB Capital Management LLC increased its FedEx shares by 3.3% in the first quarter. After purchasing an additional 63 shares, RB Capital Management LLC now has 1,951 shares in the stock of the shipping company worth $451,000. Kinneret Advisory LLC increased its FedEx shares holdings by 2.3% in the first quarter. Kinneret Advisory LLC now holds 2,821 shares in the stock of the shipping company worth $655,000, after buying an additional 63 shares. Wimmer Associates 1 LLC increased its FedEx shares by 1.4% in the first quarter. Wimmer Associates 1 LLC now has 4,711 shares in the stock of the shipping company worth $1,090,000. It also purchased 65 additional shares during this period. Wealthfront Advisers LLC increased its FedEx holdings by 0.5% during the first quarter. Wealthfront Advisers LLC now holds 12,682 shares in the stock of the shipping company worth $2,934,000. 71.62% of the stock is owned by institutional investors and hedge funds.

FedEx

FedEx Corporation offers transportation, ecommerce, and business services both in the United States as well as internationally. FedEx Express, the company's express transport segment, offers small-package ground delivery and freight transportation services; time critical transportation services; cross-border enablement and technology and ecommerce transportation solutions.

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