FedEx (NYSE:FDX) Releases Earnings Results

21 Sep 2024, 11:22 by Michael Walen · The Markets Daily

FedEx (NYSE:FDX – Get Free Report) announced its quarterly earnings results on Thursday. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22), Briefing.com reports. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the company posted $4.55 earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. FedEx updated its FY25 guidance to $20.00-21.00 EPS and its FY 2025 guidance to 20.000-21.000 EPS.

FedEx Price Performance

Shares of NYSE:FDX opened at $254.63 on Friday. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84. The stock’s 50 day moving average is $292.43 and its 200-day moving average is $274.85. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. TD Cowen lowered their target price on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday. Bernstein Bank raised their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday. Evercore ISI reduced their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Finally, BMO Capital Markets reduced their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $312.84.

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Insider Activity at FedEx

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the sale, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by company insiders.

About FedEx

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