FedEx Corporation (FDX) reported quarterly earnings results on Tuesday, Jun-21-2016. The company said it had a profit of $3.30 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $3.28. The company posted revenue of $12979.00 million in the period, compared to analysts expectations of $12771.21 million. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.66 EPS.
Many Wall Street Analysts have commented on FedEx Corporation. Company shares were Reiterated by UBS on Jun 3, 2016 to “Buy”, Firm has raised the Price Target to $ 187 from a previous price target of $186 .Company shares were Reiterated by Stifel on Jun 2, 2016 to “Buy”, Firm has raised the Price Target to $ 178 from a previous price target of $174 .
FedEx Corporation opened for trading at $164.28 and hit $166.5 on the upside on Monday, eventually ending the session at $164.47, with a gain of 1.37% or 2.22 points. The heightened volatility saw the trading volume jump to 20,18,165 shares. Company has a market cap of $44,148 M.
In a different news, on Apr 25, 2016, Frederick W Smith (Chairman/President/CEO) sold 200,000 shares at $166.30 per share price. According to the SEC, on Apr 5, 2016, Paul S Walsh (director) sold 3,900 shares at $163.77 per share price. On Mar 21, 2016, Michael L Ducker (President & CEO/FedEx Freight) sold 12,862 shares at $160.57 per share price, according to the Form-4 filing with the securities and exchange commission.
FedEx Corporation (FedEx) provides a portfolio of transportation e-commerce and business services under the FedEx brand. The Company offers its services through companies constituting four business segments: FedEx Express FedEx Ground FedEx Freight and FedEx Services. FedEx Express offers a range of domestic and international shipping services for delivery of packages and freight. FedEx Ground provides business and residential money-back guaranteed ground package delivery services. FedEx Freight offers less-than-truckload (LTL) freight services. FedEx Services provides FedExs other companies with sales marketing information technology communications customer service and certain other back-office support. The Companys subsidiaries include Federal Express Corporation FedEx Trade Networks Inc. FedEx Ground Package System Inc. FedEx SmartPost Inc. FedEx Corporate Services Inc. and GENCO Distribution System Inc. among others.