FedEx said it earned $715 million in the first quarter, or $2.65 a share, compared with $692 million, or $2.42 a share, in the year-ago period.
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Analysts surveyed by Thomson Reuters are looking for adjusted earnings of $11.97 per share for the year. The same period from previous year had $2.42 in EPS on $12.28 billion in revenue.
Wall Street analysts have a current quarter EPS estimate of $2.79 on shares of FedEx Corporation (NYSE:FDX). The company exchanged total volume of 1.81 million shares throughout course of last trade however it holds an average trading capacity of 1.44 million shares. The Median price target for the stock is measured at $181.25.
Currently FedEx Corporation (FDX) captured an average recommendation of ” Overweight ” from analysts, according to FactSet data. Analyst forecasts, earnings estimates and price target projections are issued to help their clients make money through stock investments. Finally, Laurel Wealth Advisors Inc. bought a new position in shares of FedEx Corp. during the second quarter valued at approximately $307,000. 14 said a “Buy Rating” and 1 announced “Overweight Rating”.
FedEx (NYSE:FDX) is set to release its earnings for its fiscal first quarter on September 20 after market close.
In other FedEx Corp. news, CEO Michael L. Ducker sold 5,000 shares of the business’s stock in a transaction dated Friday, July 22nd. FedEx also could weigh in on the impact of South Korean cargo ship company Hanjin’s bankruptcy protection filing and Samsung’s phone recall, both of which could boost demand for airfreight. Steel Dynamic shares ticked down 1.2% to $24 following hours. Following the completion of the sale, the chief executive officer now owns 56,265 shares of the company’s stock, valued at $8,914,063.95. Private Trust Co. NA now owns 7,463 shares of the shipping service provider’s stock worth $1,214,000 after buying an additional 712 shares in the last quarter.
Revenues for FedEx Express increased 1 percent to $6.66 billion, while FedEx Ground revenues increased 12 percent to $4.29 billion. “The stock has been suggested as “Buy” from “16” Analysts”.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services under the FedEx brand.
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FedEx has announced plans to plans to raise its shipping rates starting next year, following UPS’s rate increase that went into effect Monday.
