Q3 2023 EPS Estimates for FedEx Co. (NYSE:FDX) Decreased by Analyst

FedEx Co. (NYSE:FDX - Get Rating) - Stock analysts at KeyCorp reduced their Q3 2023 earnings per share estimates for shares of FedEx in a research note issued on Tuesday, December 20th. KeyCorp analyst T. Fowler now forecasts that the shipping service provider will post earnings of $2.85 per share for the quarter, down from their previous estimate of $3.00. The consensus estimate for FedEx's current full-year earnings is $14.11 per share. KeyCorp also issued estimates for FedEx's Q4 2023 earnings at $3.76 EPS.

A number of other equities analysts also recently commented on FDX. TheStreet downgraded FedEx from a "b-" rating to a "c+" rating in a report on Wednesday, October 12th. Cowen decreased their target price on FedEx from $230.00 to $185.00 in a research report on Friday, September 23rd. Loop Capital cut FedEx from a "buy" rating to a "hold" rating and decreased their target price for the stock from $339.00 to $202.00 in a research report on Friday, September 16th. Bank Of America (Bofa) cut FedEx from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $275.00 to $186.00 in a research report on Friday, September 16th. Finally, Susquehanna upped their target price on FedEx from $165.00 to $170.00 and gave the stock a "neutral" rating in a research report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, FedEx currently has a consensus rating of "Hold" and an average target price of $203.64.

FedEx Price Performance

Thursday's opening price for shares of FDX was $169.99. The company's market capitalization is $44.23 billion. It has a price to earnings ratio of 13.35 and a P/E/G Ratio of 0.97. It also has a beta ratio of 1.33. FedEx's 52-week low was $141.92 while its 52-week high was $266.79. The company's debt-to-equity ratio is 0.79. It has a current ratio 1.42 and quick ratio 1.38. The 50-day average moving average for the business is $167.20, while its 200-day average moving average is $194.69.

FedEx (NYSE.FDX – Get Rating) released its last earnings results on Thursday September 22nd. The shipping company reported earnings of $3.44 per share in the third quarter. This beat analysts' consensus estimates which were $3.43 by $0.01. Revenue for the quarter was $23.20 billion, which is lower than the consensus estimate of $23.78 trillion. FedEx's return on equity was 19.02%, and its net margin was 3.54%. On a year-overyear basis, the firm's quarterly revenues increased by 5.4%. The company earned $4.37 per share in the previous quarter.

FedEx Dividend Announcement

A quarterly dividend was also announced by the firm on Tuesday, January 3. Stockholders who were registered on Monday, December 12,th will receive a $1.15 Dividend. Friday, December 9th is the ex-dividend day. This is a $4.60 annualized dividend and a dividend yield at 2.71%. FedEx's current dividend payout ratio (DPR), is 36.14%.

Insider Activity

R Brad Martin, the Director of the firm, purchased 1,500 shares in a transaction which took place Monday, September 26th. The average share price was $143.41, for a total of $215,115.00. The director now owns 750 shares of the company's stock, which is valued at $107 557.50. The Securities & Exchange Commission filed the transaction. It is accessible through the SEC website. Corporate insiders currently own 8.62%.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in FedEx by 1.2% in the third quarter. Vanguard Group Inc. now owns 18,835,505 shares of the shipping service provider's stock valued at $2,796,508,000 after acquiring an additional 220,183 shares during the last quarter. Dodge & Cox boosted its holdings in FedEx by 0.6% in the second quarter. Dodge & Cox now owns 17,426,647 shares of the shipping service provider's stock valued at $3,950,795,000 after acquiring an additional 98,022 shares during the last quarter. BlackRock Inc. boosted its holdings in FedEx by 2.9% during the third quarter. BlackRock Inc. now owns 16,818,843 shares of the shipping service provider's stock worth $2,497,094,000 after buying an additional 469,345 shares during the last quarter. Primecap Management Co. CA boosted its holdings in FedEx by 3.3% during the third quarter. Primecap Management Co. CA now owns 13,878,717 shares of the shipping service provider's stock worth $2,060,573,000 after buying an additional 445,125 shares during the last quarter. Finally, FMR LLC boosted its holdings in FedEx by 15.6% during the second quarter. FMR LLC now owns 4,100,112 shares of the shipping service provider's stock worth $929,536,000 after buying an additional 554,395 shares during the last quarter. Institutional investors own 72.02% of the company's stock.

FedEx Company Profile

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.

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