FedEx Corporation (FDX) provides transportation, e-commerce, and business services in the United States and internationally. It operates in four segments: FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services. The FedEx Express segment offers various shipping services for the delivery of packages and freight. It is scheduled to report its results on June 19, 2012, before the market opens.
Recent EPS Actuals vs. Estimates
The company has met or beaten analysts' estimates in the last four quarters. In the last quarter, it reported $1.55 EPS, beating analyst estimates of $1.35.
The consensus EPS is $1.92 based on 22 analysts' estimates, up from $1.75 a year ago. Revenue estimates are $11.13B, up from $10.55B a year ago. The median target price by analysts for the stock is $107.00.
Average recommendation: Overweight
Source: Marketwatch
Analyst Rating History
- On April 23, 2012, Dahlman Rose & Co. initiated a Strong Buy rating for the company.
- On March 23, 2012, Barclays reiterated an Overweight rating for the company.
- On January 5, 2012, HSBC Securities reiterated a Neutral rating for the company.
Key Metrics
- Market Cap: 27.33B
- 52-week trading range: 64.07 - 98.66
- Trailing P/E: 13.51
- Forward P/E: 11.65
- Price/Sales: 0.65
- Price/Book: 1.67
- PEG Ratio: 0.86
- Total Debt: 1.67B
- Annual dividend yield: 0.60%
- Return on Equity: 12.97%
- Return on Assets: 7.17%
Latest Developments
- On May 29, 2012, FedEx Corp announced that it has signed an agreement to acquire the Brazilian transportation and logistics company, Rapidão Cometa Logística e Transportes SA. FedEx expects that the transaction will close in the third quarter of 2012.
- On May 10, 2012, FedEx Corp announced that it has signed an agreement to acquire TATEX, a French business-to-business express transportation company. The acquisition represents the latest FedEx investment in delivering sustainable growth in Europe.
- On April 17, 2012, FedEx Corporation and TATEX, French express transportation company, announced that they are in discussions on a potential plan to acquire TATEX.
- On April 5, 2012, FedEx Corporation announced that it signed an agreement to acquire the Polish courier company Opek Sp.z o.o. (Opek), the latest step in its strategy for growth in Europe.
- On March 27, 2012, BM&FBovespa (Bovespa) announced that on April 4, 2012, the Brazilian Depositary Receipts (BDRs) Level I of FedEx Corporation will start being traded on Bovespa's over-the-counter (OTC) market, quoted in BRL per unit and with a standard trading lot of 100 BDRs, under the ticker FDXB11B.
- On March 22, 2012, FedEx Corporation announced that it projects earnings to be $1.75 to $2.00 per diluted share in the fourth quarter of 2012 and an adjusted $6.35 to $6.60 per diluted share (EPS) for fiscal 2012.
- On March 16, 2012, Reuters reported that United Parcel Service was in constructive talks to buy TNT Express NV and reiterated its intention to make an offer, having last month proposed a EUR9 per share deal worth EUR4.9 billion ($6.4 billion).
- On December 15, 2011, FedEx Corporation announced that for third quarter of 2012, it projects earnings to be $1.25 to $1.45 per diluted share and reconfirms its forecast of $6.25 to $6.75 per diluted share for fiscal 2012.
Competitors
FedEx Corporation operates in the Air Delivery & Freight Services industry. The company could be compared to CH Robinson Worldwide Inc. (CHRW), Expeditors International of Washington Inc. (EXPD), Landstar System Inc. (LSTR), and United Parcel Service, Inc. (UPS).
Below is a comparison of the most important ratios of these companies and the industry:
Below is a comparison of the stock price changes of these companies since a year ago:
Click to enlarge
Competitors' Latest Developments
- On Jun 13, 2012, Landstar System was downgraded from Overweight to Equal Weight at Stephens.
- On Jun 5, 2012, Bridgeline Digital Inc and United Parcel Service announced that they had signed a multi-year agreement to offer B2B and B2C eCommerce web stores with an end-to-end offering comprised of Bridgeline's Total eCommerceSM solution and UPS logistics and fulfillment services.
- On May 11, 2012, United Parcel Service announced it has the necessary financing in place for its intended recommended public offer for TNT Express NV (TNT Express).
- On May 3, 2012, United Parcel Service announced that its Board of Directors declared a regular quarterly dividend and approved a $5 billion stock repurchase authorization.
- On May 3, 2012, Expeditors International of Washington, Inc. announced that its Board of Directors has declared a semi-annual cash dividend of $.28 per share, payable on June 15, 2012, to shareholders of record as of June 1, 2012.
- On Apr 26, 2012, United Parcel Service reaffirmed fiscal 2012 guidance and expects diluted earnings per share of $4.75-$5.00, an increase of 9%-to-15% over fiscal 2011.
- On Apr 26, 2012, Landstar System, Inc. announced that its Board of Directors has declared a quarterly dividend of $0.055 per share. The dividend is payable on June 1, 2012 to stockholders of record at the close of business on May 10, 2012.
- On Apr 20, 2012, Expeditors International of Washington, Inc. announced that preliminary results indicate its first quarter 2012 net earnings attributable to shareholders are expected to fall in the range of $.35-$.37 per share .
- On Apr 6, 2012, Landstar System, Inc. announced that for the first quarter of 2012, it expects revenue to increase over revenue generated in the first quarter of 2011 and diluted earnings per share to be within a range of $0.51 to $0.56.
- On Mar 29, 2012, Expeditors International of Washington, Inc. announced that it is the recipient of a €4.14 million (approximately $5.5 million) fine issued by the European Commission ("EC") pursuant to proceedings initiated by the EC's February 5, 2010 Statement of Objections, which included allegations of anti-competitive behavior.
- On Mar 19, 2012, United Parcel Service and TNT Express NV jointly announced that they have reached agreement on a recommended all-cash public offer of EUR9.50 per ordinary share by UPS for TNT Express (the Offer).
- On Mar 16, 2012, Reuters reported that United Parcel Service was in constructive talks to buy TNT Express NV and reiterated its intention to make an offer, having last month proposed a EUR9 per share deal worth EUR4.9 billion ($6.4 billion).
- On Mar 12, 2012, Dow Jones reported that United Parcel Service announced that the Company does not intend to increase a bid offer of EUR 4,9 billion for the acquisition of the issued capital of TNT Express.
- On Feb 17, 2012, TNT Express NV announced that the Company has received an unsolicited non-binding and conditional proposal from United Parcel Service for the acquisition of the whole of the issued capital of TNT Express at an indicative price of EUR 9 per ordinary share.
- On Feb 15, 2012, United Parcel Service announced it had acquired Kiala, a firm based in Brussels that provides convenient delivery options to busy consumers purchasing goods over the Internet.
- On Feb 15, 2012, United Parcel Service announced that for fiscal 2012, it expects earnings per share to increase somewhere between 9% and 15%, generating $4.75-$5 per share growth.
- On Feb 2, 2012, Landstar System, Inc. announced that for the first quarter of 2012, it expects diluted earnings per share to be within a range of $0.51 to $0.56 and within a range of $2.62 to $2.82 for fiscal 2012.
Technical Insight
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
