FedEx Posts Solid Earnings Beat to Kick Off Fiscal 2017

FedEx is trying to decrease its dependence on the postal service.  Sabri Ben-Achour

(NYSE:FDX) is scheduled to be posting its quarterly earnings results on Tuesday, September 20th.

FedEx Corporation (NYSE:FDX) traded 1.81 Million shares on last trading day with closing price of $161.26. Post opening the session at $159.33, the shares hit an intraday low of $158.2 and an intraday high of $160.07 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red. The firm has price to book ratio of 3.06 and its price to sale ratio was 0.84.

FedEx Corporation (FDX): 12 investment research analysts covering FedEx Corporation (FDX) have an average price target of $180.17 for the near short term. These analysts polled by Zacks Research now have a mean target price of $180.166 on the stock. “0” rated “Sell” for the company. Overweight rating was given by “1” and Underweight rating was given by “0”. Analysts expect the variance to be within $16.5 of the average price. High potential price target is set at $205.00 however minimum price target advised by analysts is $138.00. Citigroup Inc. reiterated a buy rating and issued a $200.00 target price on shares of FedEx a research note on Wednesday, June 22nd. On average, 12 analysts polled by Thomson Reuters expected earnings of $2.78 per share for the quarter.

FedEx said it was unable to provide unadjusted earnings guidance because it can not forecast the fiscal 2017 year-end mark-to-market pension accounting adjustments.

For the current week, the company shares have a recommendation consensus of Buy. Have a look at back 1 month ago, consensus EPS forecast was seen at $2.90.

Revenues for the quarter rose 19 percent to $14.66 billion from $12.28 billion previous year. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share. On this scale, a 1 would represent a Strong Buy, and a 5 rating would signal a Strong Sell recommendation. Following the transaction, the chief executive officer now directly owns 56,265 shares of the company’s stock, valued at approximately $8,914,063.95.